$SHANDONG MOLONG(00568.HK) has risen nearly five points. Oil service equipment is directly capturing this wave of geopolitical premium—the U.S. resumed strikes on Iran, the Strait of Hormuz is tense again, WTI jumped to $74 per barrel in a day, and oil prices became the unavoidable macro variable of the day. $United States Oil Fund LP(USO.US) also rose about three points, following the spot price.
However, this kind of geopolitically-driven oil price often comes and goes quickly. Once ceasefire expectations are restored, high-beta elastic targets like oil services can also see sharp pullbacks. It's okay to follow for the short term, but don't treat it as a trend to hold.
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