Understanding the Market | Oil Stocks Active Against the Trend, CNOOC Services Up Over 3%, SPC Up Over 2%

Oil stocks are active against the market trend. As of the time of writing, CNOOC rose 3.05% to HKD 7.1; SPC rose 2.94% to HKD 1.4; PETROCHINA rose 1.15% to HKD 7.89; CNOOC rose 1.04% to HKD 19.52. On the news front, on October 22, Brent crude oil futures rose by as much as 2% to USD 62.41 per barrel; WTI crude oil futures surpassed USD 58, currently up nearly 2%. Recently, Ping An Securities pointed out that the easing of geopolitical conflicts in the Middle East has led to a withdrawal of risk premiums in oil prices in the short term, but the risks from Russia-Ukraine and US-Venezuela are still fermenting. Coupled with uncertainties regarding the operation of the US government and external tariffs and interest rate cut policies, oil prices may show a volatile trend