HK Stock Market Move | Oil and gas stocks all opened higher, Iran completely closed the Strait of Hormuz, and international oil prices reversed their downward trend.

Oil and gas stocks opened higher across the board, as of the deadline, Shandong Molong Petroleum Machinery (00568) rose 14.87% to 6.72 Hong Kong dollars; DALIPAL HLDG (01921) rose 9.35% to 3.39 Hong Kong dollars; CNOOC (00883) rose 2.6% to 25.66 Hong Kong dollars; Sinopec (00857) rose 1.77% to 10.33 Hong Kong dollars. On the news front, on the 10th of this month, US President Trump threatened to launch another strike against Iran, and it will be "very fierce". The Iranian armed forces then stated that the Strait of Hormuz will be closed to all ships from now on, with violators becoming targets. In addition, EIA data showed a significant decrease in US crude oil inventories. On Wednesday, WTI crude oil futures closed up 2.1% above $91 a barrel, reversing the previous downward trend. Shenwan Hongyuan Group pointed out that it is expected that Brent oil prices will operate in the range of $80-120 per barrel by 2026. On the supply side, geopolitical tensions have led to the closure of the Strait of Hormuz, significantly limiting exports of nearly 20 million barrels per day of crude oil + products. Although geopolitical tensions are easing, it has already caused a global crude oil destocking, and with the subsequent recovery of Middle Eastern oil fields still requiring time, the supply side support remains strong. In terms of demand, short-term consumption demand is suppressed by high oil prices, but medium- to long-term demand continues to grow.