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F8 ENT: NOTICE OF BOARD MEETING
Oil and gas stocks opened sharply higher across the board, as Iran fully closed the Strait of Hormuz, reversing the downward trend in international oil prices.
Oil and gas stocks opened higher across the board. As of the time of writing, Shandong Molong (00568) rose 14.87% to HK$6.72; Dali Special Steel Holdings (01921) gained 9.35% to HK$3.39; CNOOC (00883) advanced 2.6% to HK$25.66; and PetroChina (00857) climbed 1.77% to HK$10.33.
Warnings of continuously rising oil prices have emerged, but why has the U.S. stock market remained unfazed?
Oil prices have experienced significant volatility due to the situation in Iran, yet US equities have defied the trend by reaching new record highs—this rare 'decoupling' phenomenon is underpinned by a strong earnings season and option structures that have created a 'paper prosperity.' However, market breadth has narrowed to its lowest level since the dot-com bubble, with the VIX climbing back above 20. The entire rally is based on the single assumption that 'conflicts will eventually be resolved.' Should a ceasefire collapse, this sandcastle will crumble.
JPMorgan warned: If the Strait of Hormuz does not fully resume operations until July, oil prices could soar to $120.
①JPMorgan recently stated that if shipping through the Strait of Hormuz does not fully resume until July, international oil prices may retest the peak level of nearly $120 per barrel seen during this round of U.S.-Iran tensions. ②The bank noted that current market pricing reflects expectations for a swift recovery in shipping through the Strait of Hormuz: traffic is expected to return to half of normal levels by May and fully recover by June.
Multiple explosions were reported on Kharg Island, Iran's largest oil-producing island. Trump stated he would stick to the deadline, warning that 'the entire civilization will perish'!
It is reported that Iran still insists on demanding a permanent ceasefire from the US, compensation for losses, and the lifting of sanctions, with the condition that it must control the toll rights of the strait. In his latest statement, Trump mentioned regime change and threatened to make the entire Iranian civilization vanish tonight.
Trump warns Iran: '48 hours' remain; Iranian military responds with 'making the aggressors pay the price'; is the war escalating to Gulf 'infrastructure'?
The conflict between the US and Iran escalated as Trump issued a 48-hour ultimatum, demanding that Iran open the Strait of Hormuz by April 6 or face 'catastrophic consequences'.