HK Stock Market Move | Oil and gas stocks fell sharply this morning, with Shandong Molong Petroleum Machinery (00568) dropping more than 8%, after reports that the US would "pause" airstrikes on Iranian energy facilities.

Oil and gas stocks fell this morning, as of press time, Shandong Molong Petroleum Machinery (00568) fell 7.96% to HK$10.87; CHK OIL (00632) fell 4.76% to HK$0.4; SINOPEC SSC (01033) fell 4.81% to HK$0.99. On the news front, international oil prices plunged due to factors such as the easing of tensions in the Middle East. As of press time, Brent crude oil fell 3% to $100 per barrel after rising nearly 11% previously. According to Xinhua News Agency, Israeli Prime Minister Netanyahu said in a press conference on the 19th that Israel "alone" carried out airstrikes on Iranian natural gas fields in compliance with President Trump's request to "pause" further strikes on energy facilities. Trump also stated earlier at the White House that he had informed Netanyahu not to attack energy facilities within Iran. Furthermore, Trump stated that he would not deploy troops anywhere and that the U.S. would take all necessary measures to maintain oil price stability.