F Samsung Crude Oil ETF (03175) climbed more than 3%, rising 3.03% to HK$12.94 as of press time, with a turnover of HK$2,596,400.
On the news front, according to market media reports, shipping data shows that the seven-day average crude oil flow through the Strait of Hormuz plummeted from over 20 million barrels per day the previous week to about 8.5 million barrels per day, with at least 10 attacks on commercial vessels occurring within a single week. Iran's First Vice President explicitly stated that Iran has "no choice" but to control the Strait of Hormuz to safeguard national security. Although the U.S. Energy Secretary said the strait's flow has recovered to about 80% of pre-war levels, refined product shipments remain restricted, and a new round of attacks has made the recovery extremely fragile.
CICC pointed out that uncertainty over passage through the Strait of Hormuz has intensified once again, with flows since October falling back to about 70% of pre-conflict levels; the U.S. SPR has stopped releasing reserves, China's imports are down 33.2 million tons year-on-year, and combined U.S.-China restocking demand could reach 500-550 million barrels, which would bring additional demand growth. The firm noted that the oil price expectations embedded in the A/H share prices of domestic oil and gas companies are only US$75/70 per barrel, while Brent crude contracts for the end of 2027 have already risen to US$89 per barrel, leaving significant room for valuation recovery in high-dividend oil and gas targets.
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