HK Stock Market Move | Oil stocks are falling rapidly; Morgan Stanley indicates that the pace of the Strait reopening is faster than expected, and therefore lowers its crude oil price forecast.

Oil stocks accelerated their decline, as of the time of this report, PetroChina (00857) fell by 4.44% to 8.4 Hong Kong dollars; CNOOC Limited (00883) fell by 4.08% to 20.22 Hong Kong dollars; China Oilfield Services (02883) fell by 2.69% to 6.15 Hong Kong dollars; China Petroleum & Chemical Corporation (00386) fell by 1.96% to 4 Hong Kong dollars. On the news front, Morgan Stanley stated in its latest report that due to factors such as the reopening of the Hormuz Strait happening faster than expected, they are lowering their Brent crude price forecast: reducing the price forecast for the third quarter of 2026 by 15 US dollars to 75 US dollars per barrel; reducing by 5 US dollars to 75 US dollars for the fourth quarter of 2026; reducing by 5 US dollars to 75 US dollars for the first and second quarters of 2027; reducing by 10 US dollars to 70 US dollars for the third and fourth quarters of 2027. Ping An Securities stated that although there is still some game playing in the short-term negotiations between the US and Iran, and conflicts have escalated, the overall direction of geopolitical risks in the Middle East is downward, causing Brent oil prices to fluctuate around 80 US dollars per barrel. Faced with the severe fluctuation in international oil prices, domestic oil companies have reduced their sensitivity to oil prices through integrated upstream and downstream layouts and diversified oil and gas sources, and have accelerated their investment in the opening up of offshore oil and gas resources in China to reduce the degree of energy dependence on foreign sources.