<div id="readability-page-1"><div>By Jiahui Huang China's oil majors surged by the daily limit for a second consecutive day as the U.S.-Iran conflict continued to push energy prices higher. Shanghai-listed shares of the &#34;Big Three&#34;--PetroChina, Cnooc and China Petroleum &amp; Chemical Corp.--all rose by 10% in afternoon trade on Tuesday, bringing week-to-date gains to 21% each. Energy services stocks also surged during the session, with China Oilfield Services adding 10%. The gains came as the widening Middle East conflict pushed up energy prices. So far this week, front-month Brent is up 10%, while WTI is up 9.3%. That is buoying oil producers and refiners, but also surfacing concern about the longer-term impact of shipping disruptions in the Strait of Hormuz, which connects Middle East fuel to the rest of the world. Analysts at Goldman Sachs note that tanker traffic through the strait appears significantly disrupted as many shippers, oil producers, and insurers shift to wait-and-see mode. GS prefers exposure to upstream oil-and-gas, highlighting STO Express, Cnooc and PetroChina as preferred picks. It has buy ratings on all three. Buy-rated Asia upstream names seem to be pricing in an average Brent price of about $70 a barrel, with valuations relatively discounted versus developed market peers even after the recent rally, Nikhil Bhandari and others wrote in a note. Brent was last hovering below $80 a barrel. For Asia refiners outside of China, Iran-related geopolitical risk seems initially negative to neutral due to higher crude costs and freight rates but that pressure could be later passed on in a tight product market, they said. &#34;We expect refined product prices to rise more than crude because crude has buffers like Strategic Petroleum Reserves which products lack,&#34; GS said. On a national level, oil supply risks remain manageable for China for now, Macquarie analysts wrote in a note. China's strategic petroleum reserves, commercial inventories and offshore floating storage should help cushion the near-term impact of any supply disruption, Macquarie added. While Iran supplies 11% of China's crude oil, the bigger risk lies in shipping, Capital Economics said, as around half of the country's crude imports pass through the Strait of Hormuz. Write to Jiahui Huang at jiahui.huang@wsj.com (END) Dow Jones Newswires03-03-26 0244ET</div></div>

中國石油化工股份

中國石油

中國海油

中國石化

中國石油股份

中國海洋石油

中國的主要石油股票，包括中國石油、 中國海油和中國石化，因美伊衝突升級而上漲了 10%，推動能源價格上漲。本週，布倫特原油上漲了 10%，WTI 上漲了 9.3%。高盛的分析師看好上游油氣股票，維持對這三家公司的買入評級。儘管地緣政治風險存在，中國的石油供應由於戰略儲備仍然可控。然而，霍爾木茲海峽的航運中斷構成了重大風險，因為中國一半的原油進口通過這一航道運輸

隨着中東衝突的持續，中國的 “三大” 石油股再次上漲