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A-share oil and gas stocks declined collectively, with CNOOC dropping more than 4% and Zhongman Petroleum falling over 3%.
Gelonghui, June 15 | Shares of oil and gas companies listed on China's A-share market declined collectively. Among them, Keli Co., Ltd. fell by over 10%, Haimo Technology and Shandong Molong dropped by more than 5%, CNOOC Limited declined by over 4%, Zhongman Petroleum fell by over 3%, Potevio Hengxin dropped by over 2%, and China Oilfield Services Limited (COSL) declined by over 1%. On the news front, the U.S. and Iran reached an agreement, triggering a sharp decline in international crude oil prices. WTI crude futures briefly plunged 5% to $79.15 per barrel, hitting their lowest level since April 17; Brent crude futures dropped by more than 4% at one point to $83.33 per barrel, marking the lowest level since March 10. On June 14 local time, U.S. President Trump announced that the United States and Iran had reached a peace agreement, Ho
A-share Market Movement: Oil Price Rises, Oil and Gas Stocks Surge, Jereh Group Up Over 6%
Gelonghui, April 30 | The oil and gas sector in the A-share market surged, with Jerui Co., Ltd. rising over 6%, Yuelong Technology, Teruisi, and Keli Co., Ltd. increasing by more than 3%, and Haimo Technologies, Lanke High-tech, and Shandong Molong gaining over 2%. In terms of news, Brent crude futures for June delivery rose over $8 to $126.09 per barrel, hitting a new high since March 2022. Bloomberg reported that the U.S. military plans to deploy hypersonic missiles against Iran for the first time in an actual combat scenario.
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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.