On June 15, PetroChina (00857.HK) declined 3.19% in regular trading, trading at HK$10.03 per share, with turnover of HK$550 million.
On the news front, Iran announced the conclusion of its military operations against Israel, signaling a phased de-escalation of Middle East tensions. WTI crude oil has pulled back sharply from its recent high near $93.50 per barrel. Goldman Sachs previously estimated that approximately $15-20 of WTI crude's rally was attributable to geopolitical risk premium. As ceasefire signals emerged, this premium has rapidly dissipated, putting sustained pressure on oil prices and dragging down petroleum equities.
The three major Hong Kong-listed oil majors have collectively retreated in recent sessions, with PetroChina declining over multiple consecutive trading days since June 9. Within the Integrated Oil & Gas sector, Sinopec Corp gained 4.5% during the same session.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments