F Samsung Oil Futures ETF (03175) rose nearly 3%, climbing 2.79% to 10.13 Hong Kong dollars at the time of writing, with a trading volume of 1.339 million Hong Kong dollars.
This morning, the U.S. Central Command issued a statement on July 29, saying that the U.S. military is continuing its maritime blockade operations against Iran. As of that day, the U.S. military had altered the routes of 20 commercial vessels and caused two ships to lose their ability to navigate. This indicates that U.S. military pressure in the Gulf region remains persistent, with no signs of easing tensions in the Strait of Hormuz and related waterways.
Additionally, U.S. President Trump stated that because Iran launched missiles at U.S. troops in the Middle East, the United States will "deal a heavy blow to Iran." He also plans to add new provisions to relevant legislation, authorizing the U.S. to impose tariffs on Iran. As of July 29, the settlement price of the Brent crude oil futures contract for September delivery rose 7.91%, closing at $90.74 per barrel.
Analysts at Barclays pointed out that with oil inventories at multi-year lows and most of the strategic petroleum reserve releases already completed, the renewed escalation of conflict around the Strait of Hormuz poses a significant upside risk to energy prices. Meanwhile, analysts at UBS noted that the resurgence of military strikes in the Middle East, coupled with Iranian officials reiterating their intention to control shipping activities in the Strait of Hormuz (even though oil flows through the strait have already significantly decreased), are once again pushing oil prices higher.
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