<div id="readability-page-1"><div>The US and Iran have reached an agreement to gradually reopen the Strait of Hormuz in exchange for a relaxation of the US maritime blockade, the Al Arabiya reported. International oil prices sank, with Brent oil futures and New York oil futures shedding nearly 3% to USD98.46 and USD92.52 per barrel, respectively.Share prices of HK-listed three major oil stocks were under hefty pressure. PETROCHINA (00857.HK) -1.030 (-8.818%) Short selling $550.74M; Ratio 32.455% hit a trough of HKD10.66. It last reported at HKD10.68, down 8.56%, with trading volume of 251 million shares, involving HKD2.779 billion. CNOOC (00883.HK) -1.660 (-5.920%) Short selling $228.83M; Ratio 8.806% was last at HKD26.44, down 5.71%. SINOPEC CORP (00386.HK) -0.050 (-1.062%) Short selling $89.94M; Ratio 20.767% was last at HKD4.64, down 1.49%.Following talks, the US and Iran have reached a consensus and agreed to gradually reopen the Strait of Hormuz, report said. In the coming hours, vessels stranded in the strait will be freed. (HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-07 12:25.)</div></div>

00386

00857

601857

600028

EMLP

The US and Iran have reportedly agreed to gradually reopen the Strait of Hormuz, leading to a relaxation of the US maritime blockade. This development caused international oil prices to drop nearly 3%, with Brent and New York oil futures at USD98.46 and USD92.52 per barrel, respectively. Consequently, shares of major HK-listed oil companies fell sharply, with PETROCHINA down over 8%, CNOOC down nearly 6%, and SINOPEC down about 1.5%.

AASTOCKS News

SINOPEC CORP

PETROCHINA

Sinopec Corp.

First Trust North American Energy Infra Fd

CNOOC

PetroCN HK SDR 1to2

CNOOC-R

US, Iran Purportedly Forge Consensus to Free Stranded Vessels in Strait; PETROCHINA Dives 8%+