HK Stock Market Move | International oil prices fluctuated and fell back. China Oilfield Services (02883) dropped over 4%, and PetroChina (00857) fell over 3%.

Oil stocks collectively declined. As of press time, CHINA OILFIELD (02883) fell 4.63% to HK$7.515; CNOOC (00883) dropped 3.32% to HK$23.9; PETROCHINA (00857) declined 3.19% to HK$10.01; SINOPEC CORP (00386) fell 2.51% to HK$4.47. On the news front, international oil prices retreated from highs, with Brent crude futures falling over 1.5% intraday to $104.4 per barrel. China Securities Co.,Ltd. Futures noted that although crude oil trade volumes exported through the Strait of Hormuz have recovered to 85% of pre-conflict levels over the past two weeks, the recent escalation of Saudi-Houthi conflicts and more tanker attacks continue to raise market concerns about the sustainability of export recovery. On the evening of the 13th, an office building of Saudi Aramco in eastern Saudi Arabia was attacked, causing a limited-scale fire, and Iran has also intensified its strikes on vessels passing through the Strait of Hormuz. October oil price movements remain highly dependent on the Middle East situation and changes in Strait traffic.