In "The Big Banks," Citibank expects oil prices to break through $80 per barrel in the short term

Citi published a report indicating that the geopolitical tensions surrounding Iran escalated over the weekend, which may cause oil prices to break through $80 per barrel in the short term. This is likely a positive for Chinese oil companies, especially PetroChina (00857.HK) and CNOOC (00883.HK), as they not only offer a dividend yield of 5-6% but can also serve as a low-cost inflation hedge. On the other hand, Chinese chemical stocks that have performed well recently may face downward pressure due to rising input costs