---
title: "The oil ETF Penghua rose over 1.1%, as the U.S. crackdown on Hark Island may lead to ongoing or escalating conflicts"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/279189802.md"
description: "U.S. President Trump stated that the strike on Iran's Khark Island has \"completely destroyed\" most of the area, and further strikes may continue. China International Capital Corporation (CICC) pointed out that the loading volume of Saudi Arabia's East-West pipeline has risen to 2.9 million barrels per day, and the alternative export capacity at Yanbu port in the Red Sea has increased, with route risk premiums supporting high VLCC freight rates. The CNI Oil & Gas Index rose by 1.12%, and the Penghua Oil ETF increased by 1.11%"
datetime: "2026-03-16T02:04:11.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/279189802.md)
  - [en](https://longbridge.com/en/news/279189802.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/279189802.md)
---

# The oil ETF Penghua rose over 1.1%, as the U.S. crackdown on Hark Island may lead to ongoing or escalating conflicts

In terms of news, U.S. President Trump stated on March 14 that the U.S. strike on Iran's Khark Island "completely destroyed" most of the area, but "we may bomb a few more times, just for fun."

CICC pointed out that the loading volume of Saudi Arabia's East-West pipeline has risen to 2.9 million barrels per day, and the export capacity at the Red Sea Yanbu port is rapidly increasing. However, the route risk premium still supports VLCC freight rates at high levels. Looking further ahead, global commercial and strategic inventories may be significantly depleted, and the demand for replenishment driven by energy security is expected to create a transportation increment on an annual basis, contrary to the situation of overcapacity caused by inventory accumulation after the 2020 oil price war.

As of March 16, 2026, 09:41, the CNI Oil and Gas Index (399439) surged by 1.12%, with constituent stocks such as HaiMo Technology rising by 9.17%, Intercontinental Oil and Gas rising by 6.55%, and HeShun Petroleum rising by 5.84%. Stocks like Taishan Petroleum and Zhongman Petroleum also followed suit. The oil ETF Penghua (159697) rose by 1.11%, with the latest price reported at 1.55 yuan.

The oil ETF Penghua closely tracks the CNI Oil and Gas Index, which reflects the changes in the securities prices of listed companies related to the oil and gas industry on the Shanghai and Shenzhen North exchanges.

Data shows that as of February 27, 2026, the top ten weighted stocks in the CNI Oil and Gas Index (399439) are China National Petroleum, China National Offshore Oil, Sinopec, Jereh Group, China Merchants Energy Shipping, COSCO Shipping Energy, Guanghui Energy, Intercontinental Oil and Gas, Jiufeng Energy, and New Hope Group, with the top ten weighted stocks accounting for a total of 67.92%.

The oil ETF Penghua (159697) has off-exchange connections (A: 019827; C: 019828; I: 022861)

### Related Stocks

- [399439.CN](https://longbridge.com/en/quote/399439.CN.md)
- [159697.CN](https://longbridge.com/en/quote/159697.CN.md)

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