HK Stock Market Move | Oil and gas stocks fell in early trading, with the US and Iran set to negotiate again on the 16th. International oil prices have all dropped below $100.

Oil and gas stocks fell in the morning session. As of the time of writing, Shandong Molong Petroleum Machinery (00568) fell by 5.12% to 8.71 Hong Kong dollars; PETRO-KING (02178) dropped by 3.85% to 0.25 Hong Kong dollars; SINOPEC SSC (01033) fell by 3.37% to 0.86 Hong Kong dollars; CNOOC (00883) fell by 1.5% to 26.24 Hong Kong dollars. On the news front, tensions in the Middle East have eased, causing international oil prices to drop below $100. As of the time of writing, Brent crude oil was priced at $97.82 per ounce. According to Xinhua News Agency, US President Trump said on the 13th at the White House that Iran had called the US that morning expressing a desire to reach an agreement. US officials revealed that contact between the US delegation and Iranian leaders was ongoing following talks in Islamabad. The next round of "direct talks" between the US and Iran may take place in Islamabad on the 16th. In addition, according to a statement released by the office of Iranian President Rouhani on the 13th, President Rouhani told French President Macron in a phone call that Iran is willing to continue negotiations with the US within the framework of international law and will abide by ceasefire terms. Previously, US "excessive ambitions" had hindered reaching an agreement.