Oil Stocks Rise in Asia on Reports of Israeli Counterstrikes on Iran

Dow Jones04-19

By Kimberley Kao

Oil stocks in Asia rose Friday after reports of an Israeli missile strike on Iran sent oil prices higher, helping energy companies buck broad selloffs that hit markets across the region amid concerns of escalating tensions in the Middle East.

PetroChina was 2.5% higher in afternoon trading in China while its Hong Kong-listed shares were up by 1.5%. Sinopec gained 1.1%, Cnooc added 1.0% and China Oilfield Services was up 1.8% in Hong Kong trading, while S-Oil added 1.9% in South Korea and MISC rose 3.1% in Malaysia.

Benchmark indexes in much of the region suffered losses in early trading, coming after ABC News reported an unnamed U.S. official as saying that Israel had launched a strike against Iran in retaliation for Tehran's drone and missile attack last weekend. The Wall Street Journal and others later confirmed the reports.

"News of Israel's attack on Iran caused a massive risk-off move across markets," said Khoon Goh, research analyst at ANZ, with "investors paring back risk ahead of the weekend given the potential for further escalation."

"Any broadening of the conflict to a regional one could potentially put some oil supplies at risk," IG market strategist Yeap Jun Rong said. He said oil prices would likely stay higher while markets watch for signs of an all-out conflict that could disrupt supply.

Front-month WTI and Brent crude-oil futures both surged more than 4% in morning trading before easing later in the session. WTI was last 1.4% higher at $83.89 a barrel, while Brent was last up 1.3% at $88.22 a barrel.

Write to Kimberley Kao at kimberley.kao@wsj.com

(END) Dow Jones Newswires

April 19, 2024 03:00 ET (07:00 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2428850686?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-04-19 15:00","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2428850686","market":"hk","top_or_hot":-1,"title":"Oil Stocks Rise in Asia on Reports of Israeli Counterstrikes on Iran","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Kimberley Kao \n</p>\n<pre>\n \n</pre>\n<p>\n  Oil stocks in Asia rose Friday after reports of an Israeli missile strike on Iran sent oil prices higher, helping energy companies buck broad selloffs that hit markets across the region amid concerns of escalating tensions in the Middle East. \n</p>\n<p>\n  PetroChina was 2.5% higher in afternoon trading in China while its Hong Kong-listed shares were up by 1.5%. Sinopec gained 1.1%, Cnooc added 1.0% and China Oilfield Services was up 1.8% in Hong Kong trading, while S-Oil added 1.9% in South Korea and MISC rose 3.1% in Malaysia. \n</p>\n<p>\n  Benchmark indexes in much of the region suffered losses in early trading, coming after ABC News reported an unnamed U.S. official as saying that Israel had launched a strike against Iran in retaliation for Tehran's drone and missile attack last weekend. The Wall Street Journal and others later confirmed the reports. \n</p>\n<p>\n  \"News of Israel's attack on Iran caused a massive risk-off move across markets,\" said Khoon Goh, research analyst at ANZ, with \"investors paring back risk ahead of the weekend given the potential for further escalation.\" \n</p>\n<p>\n  \"Any broadening of the conflict to a regional one could potentially put some oil supplies at risk,\" IG market strategist Yeap Jun Rong said. He said oil prices would likely stay higher while markets watch for signs of an all-out conflict that could disrupt supply. \n</p>\n<p>\n  Front-month WTI and Brent crude-oil futures both surged more than 4% in morning trading before easing later in the session. WTI was last 1.4% higher at $83.89 a barrel, while Brent was last up 1.3% at $88.22 a barrel. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Kimberley Kao at kimberley.kao@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 19, 2024 03:00 ET (07:00 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oil Stocks Rise in Asia on Reports of Israeli Counterstrikes on Iran</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil Stocks Rise in Asia on Reports of Israeli Counterstrikes on Iran\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-19 15:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Kimberley Kao \n\n\n \n\n\n  Oil stocks in Asia rose Friday after reports of an Israeli missile strike on Iran sent oil prices higher, helping energy companies buck broad selloffs that hit markets across...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0348784397.USD","symbol_name":"ALLIANZ ORIENTAL INCOME \"A\" (USD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2428850686","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2428850686","pubTimestamp":1713510000,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Oil stocks in Asia rose Friday after reports of an Israeli missile strike on Iran sent oil prices higher, helping energy companies buck broad selloffs that hit markets across the region amid concerns of escalating tensions in the Middle East.PetroChina was 2.5% higher in afternoon trading in China while its Hong Kong-listed shares were up by 1.5%. Sinopec gained 1.1%, Cnooc added 1.0% and China Oilfield Services was up 1.8% in Hong Kong trading, while S-Oil added 1.9% in South Korea and MISC rose 3.1% in Malaysia.Benchmark indexes in much of the region suffered losses in early trading, coming after ABC News reported an unnamed U.S. official as saying that Israel had launched a strike against Iran in retaliation for Tehran's drone and missile attack last weekend. The Wall Street Journal and others later confirmed the reports.\"News of Israel's attack on Iran caused a massive risk-off move across markets,\" said Khoon Goh, research analyst at ANZ, with \"investors paring back risk ahead of ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"600028":"中国石化","601808":"中海油服","601857":"中国石油","LU0348784397.USD":"ALLIANZ ORIENTAL INCOME \"A\" (USD) ACC","SG9999001093.SGD":"United Greater China Fund A Acc SGD","LU1794554557.SGD":"Allianz All China Equity AT Acc H2-SGD","IE00BQJZWZ67.USD":"FRANKLIN MV ASIA PACIFIC EX JAPAN EQUITY GROWTH AND INCOME \"A\" (USD) INC (M) PLUS","BK0006":"大央企重组","00857":"中国石油股份","LU1282651048.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AMG\" (USD) INC","LU0327786744.USD":"Janus Henderson Horizon China Opportunities A2 USD","LU1688375341.USD":"贝莱德中国灵活股票基金","LU0326950275.SGD":"Schroder ISF China Opportunities A Acc SGD-H","BK0010":"央企","LU0417516571.SGD":"Allianz Oriental Income Cl AT Acc SGD","00386":"中国石油化工股份","IE00BWDBJ730.SGD":"Legg Mason QS - MV Asia Pacific ex Japan Equity Growth and Income A Mdis SGD-H Plus","LU0823426480.USD":"法巴中国股票经典Dis","SG9999003461.SGD":"United Asia Pacific Infrastructure SGD","LU0173614495.USD":"富达中国焦点A","BK0164":"国企混改","LU0651946864.USD":"贝莱德新兴市场股票收益A2","LU1770034418.SGD":"ALL CHINA EQUITY \"A\" (SGDHDG) ACC","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","02883":"中海油田服务","LU1048588211.SGD":"Blackrock Asian Dragon A2 SGD-H","LU0359201612.USD":"贝莱德中国基金A2","BK0188":"融资融券","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","LU0072462343.USD":"贝莱德亚洲巨龙基金","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","BK0176":"可燃冰","LU0140636845.USD":"施罗德大中华区股票A Acc","LU2097828474.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC A","LU0293314216.USD":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"A\" (USD) ACC","LU0640798160.USD":"EASTSPRING INVESTMENTS GLOBAL EMERGING MARKET DYNAMIC \"A\" (USD) ACC","BK0183":"MSCI概念","BK0025":"油气改革","BK0012":"证金概念","BK1112":"石油与天然气钻井","BK0196":"行业龙头","LU1115378108.SGD":"Eastspring Investments - Global Emerging Markets Dynamic AS SGD","LU1720050803.USD":"安联全方位中国股票基金","LU0572944931.SGD":"Janus Henderson Horizon China Opportunities A2 SGD","LU0348783233.USD":"安联东方收入型 CI A Dis美元","SG9999006597.SGD":"United China-India Dynamic Growth SGD","BK0258":"开采辅助","LU0405327494.USD":"ALLSPRING CHINA A FOCUS \"I\" (USD) ACC","LU1781817850.SGD":"Blackrock Systematic China A-Share Opportunities A2 SGD-H","LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC"},"translate_title":"据报道，以色列反击伊朗，亚洲石油库存上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"600028":0.9,"601808":0.9,"601857":0.9,"00857":0.9,"02883":0.9,"00386":0.9},"content_text":"By Kimberley Kao \n\n\n \n\n\n  Oil stocks in Asia rose Friday after reports of an Israeli missile strike on Iran sent oil prices higher, helping energy companies buck broad selloffs that hit markets across the region amid concerns of escalating tensions in the Middle East. \n\n\n  PetroChina was 2.5% higher in afternoon trading in China while its Hong Kong-listed shares were up by 1.5%. Sinopec gained 1.1%, Cnooc added 1.0% and China Oilfield Services was up 1.8% in Hong Kong trading, while S-Oil added 1.9% in South Korea and MISC rose 3.1% in Malaysia. \n\n\n  Benchmark indexes in much of the region suffered losses in early trading, coming after ABC News reported an unnamed U.S. official as saying that Israel had launched a strike against Iran in retaliation for Tehran's drone and missile attack last weekend. The Wall Street Journal and others later confirmed the reports. \n\n\n  \"News of Israel's attack on Iran caused a massive risk-off move across markets,\" said Khoon Goh, research analyst at ANZ, with \"investors paring back risk ahead of the weekend given the potential for further escalation.\" \n\n\n  \"Any broadening of the conflict to a regional one could potentially put some oil supplies at risk,\" IG market strategist Yeap Jun Rong said. He said oil prices would likely stay higher while markets watch for signs of an all-out conflict that could disrupt supply. \n\n\n  Front-month WTI and Brent crude-oil futures both surged more than 4% in morning trading before easing later in the session. WTI was last 1.4% higher at $83.89 a barrel, while Brent was last up 1.3% at $88.22 a barrel. \n\n\n \n\n\n  Write to Kimberley Kao at kimberley.kao@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 19, 2024 03:00 ET (07:00 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2428850686"}