Movement Alert|PETROCHINA Rises 3.09% in Regular Trading, EIA Lifts Oil Price Outlook Amid Middle East Tensions

Market Focus
Yesterday

On October 13, PETROCHINA rose 3.09% in regular trading, trading at HK$10.16 per share, with turnover of HK$185 million.

The move was driven by a significantly higher oil price forecast from the U.S. Energy Information Administration, alongside sustained Middle East geopolitical tensions that lifted international crude benchmarks and buoyed Hong Kong-listed oil majors.

According to the reference alert, the EIA sharply raised its oil price expectations for this year and next, while repeated tanker attacks near the Strait of Hormuz and Iran's threat to blockade the key waterway further tightened supply sentiment. Within the integrated oil and gas sector, SINOPEC CORP rose 0.78% in sympathy. The company engages in oil and natural gas production and distribution across upstream, refining, sales, and natural gas segments.

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