HK Stock Market Move | Oil stocks collectively rise, Sinopec (00386) rises more than 3%, geopolitical tensions drive oil prices rebound.

Oil stocks collectively rose, as of press time, China Petroleum (00386) rose 3.6% to HK$4.61; Sinopec Shanghai Petrochemical (00338) rose 1.54% to HK$1.32; CNOOC (00883) rose 1.09% to HK$20.38; PetroChina (00857) rose 1% to HK$8.11. On the news front, according to CCTV news, on December 17th local time, after U.S. President Trump ordered a comprehensive blockade of all sanctioned oil tankers entering and leaving Venezuela, market concerns about geopolitical risks intensified, pushing oil prices higher, and Brent crude oil returned to above $60 per barrel. EB SECURITIES previously pointed out in a research report that under the premise of continuing geopolitical uncertainties, the medium to long-term supply and demand pattern of oil still has a prosperous foundation. From a long-term perspective, the firm continues to be optimistic about the "Big Three Oil Companies" and the oilfield service sector.