HK Stock Market Move | Oil stocks are under pressure again, with international oil prices dropping significantly. The market still faces multiple uncertainties.

Oil stocks are under pressure again. As of the end of the reporting period, China Petroleum (00857) fell by 3% to HK$5.49; CNOOC (00883) fell by 2.54% to HK$16.84; China Oilfield Services (02883) fell by 2.31% to HK$7.18; Sinopec (00386) fell by 2.09% to HK$4.22. On the news front, oil prices fell sharply last night due to the drag of the US dollar. WTI December crude oil futures closed down $2.30, a drop of more than 3.32%, to $68.04 per barrel. Brent January crude oil futures closed down $2.04, a drop of more than 2.76%, to $73.87 per barrel. GF Futures believes that supply pressure easing, weak demand, a stronger US dollar, and geopolitical uncertainties coexist. In the short term, oil prices face downward pressure, but the space is relatively limited, and there is a high probability of continued wide fluctuations in oil prices.