---
title: "Hong Kong stock movement: PETRO-KING fell 16.61%, as easing tensions in the Middle East triggered a sharp drop in oil prices, putting pressure on oil and gas stocks"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/281987577.md"
description: "PETRO-KING fell 16.61%; Shandong Molong fell 13.20%, with a transaction amount of HKD 1.034 billion; CNOOC Oilfield Services rose 0.97%, with a transaction amount of HKD 175 million; Sinopec Oilfield Service fell 4.35%, with a transaction amount of HKD 170 million; Dalipu Holdings fell 7.68%, with a market value of HKD 9.599 billion"
datetime: "2026-04-08T06:47:12.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/281987577.md)
  - [en](https://longbridge.com/en/news/281987577.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/281987577.md)
---

# Hong Kong stock movement: PETRO-KING fell 16.61%, as easing tensions in the Middle East triggered a sharp drop in oil prices, putting pressure on oil and gas stocks

**Hong Kong Stock Movement**

PETRO-KING fell 16.61%. Based on recent key news:

1.  On April 8, tensions in the Middle East eased as Trump accepted Pakistan's ceasefire proposal, leading to a significant drop in international oil prices. WTI crude oil futures plummeted over 19%, affecting oil and gas stocks broadly, with PETRO-KING's stock price dropping 6.78%. Source: Zhitong Finance
    
2.  On April 8, the Strait of Hormuz will achieve safe navigation within two weeks, further lowering oil prices and impacting the overall performance of the oil and gas industry. Source: Zhitong Finance
    
3.  On April 8, Iran and the U.S. will negotiate in Pakistan, reducing market concerns about geopolitical risks, which puts pressure on oil and gas stocks. Source: Zhitong Finance The oil and gas industry is significantly affected by geopolitical factors.
    

**Stocks with High Trading Volume in the Industry**

Shandong Molong fell 13.20%. Based on recent key news:

1.  On April 8, tensions in the Middle East eased as Trump accepted Pakistan's ceasefire proposal, leading to a significant drop in international oil prices. WTI crude oil futures plummeted over 19%, affecting oil and gas stocks broadly, with Shandong Molong's stock price dropping 13.20%. Source: Zhitong Finance The oil and gas industry is significantly affected by international situations.

CNOOC Services rose 0.97%. Based on recent key news:

1.  On April 7, CNOOC Services announced a board meeting to approve Q1 2026 performance. This move may attract market attention to the company's performance, driving up the stock price. Source: Company Announcement
    
2.  On April 6, the Taiwanese government announced the launch of a domestic aviation fuel subsidy mechanism to address the impact of the Middle East situation on oil prices. This may indirectly affect market expectations for the oilfield services industry. Source: Executive Yuan Announcement
    
3.  On April 8, investment experts pointed out in an interview that oil prices fluctuate due to international situations and suggested that investors buy oil stocks during bad news. This view may influence investors' strategies for oilfield service stocks. Source: Sing Tao Headlines Oil price fluctuations are affected by the Middle East situation, increasing market uncertainty.
    

Sinopec Oilfield Services fell 4.35%. Based on recent key news:

1.  On April 8, tensions in the Middle East eased as Trump accepted Pakistan's ceasefire proposal, leading to a significant drop in international oil prices, with WTI crude oil futures plummeting over 19%, affecting oil and gas stocks broadly. Source: Zhitong Finance
    
2.  On April 7, JP Morgan warned of turmoil in the global energy market, particularly the potential threat of the Iran conflict to the U.S. economy, further exacerbating market concerns about oil price fluctuations. Source: Zhitong Finance
    
3.  On April 8, Petronas stated that its tankers passed through the Strait of Hormuz, indicating a partial recovery of transport routes and alleviating market concerns about supply chain disruptions. Source: Jinshi Data Oil price fluctuations are intensifying, increasing market risks.
    

**Stocks with High Market Capitalization in the Industry**

Dali Pu Holdings fell 7.68%, with a market capitalization of HKD 9.599 billion, and there has been no significant news recently. Trading is active, with clear capital flows. Considering the sector and industry trends, this stock shows significant volatility, and specific reasons need further observation

### Related Stocks

- [02178.HK](https://longbridge.com/en/quote/02178.HK.md)

## Related News & Research

- [Oil little changed as traders await breakthrough in US.-Iran negotiations](https://longbridge.com/en/news/286925961.md)
- [When fuel prices hit different](https://longbridge.com/en/news/286772713.md)
- [Oil edges lower as traders assess Middle East developments](https://longbridge.com/en/news/286980644.md)
- [IRAN'S PARLIAMENT SPEAKER SAYS OUR MILITARY FORCES HAVE USED THE CEASEFIRE OPPORTUNITY IN THE BEST WAY TO REBUILD THEIR STRENGTH](https://longbridge.com/en/news/287077586.md)
- [Fox’s Martha MacCallum presses Trump energy sec on giving people a ‘little bit of relief’ amid skyrocketing gas prices](https://longbridge.com/en/news/286969694.md)