Rising Oil Prices Drive Energy Sector Gains, "Big Three" Oil Companies All Hit Limit Up, China National Petroleum Records Billions in Trading Volume

On March 2, driven by the Middle East conflict, the oil and gas sector surged with. At the end of the day, ...Keli Shares30cm sealing board,Tongyuan Petroleum、Potential Energy Hengxin、Deshi Co., Ltd.20cm limit upSinopec Oilfield Service、Zhunyou Shares、Shandong MolongTen stocks also hit the limit up.

It is worth noting thatThe "three oil companies" in the A-share market all surged 10% today.Sinopec (601857) stock surged to a limit up, reaching a new high since April 2015.Trading volume exceeds 10 billion yuan.Sinopec (600028)The stock hit the daily limit-up during the closing auction, following China National Offshore Oil Corporation (600938) hitting the daily limit-up earlier.

Multiple oil-related stocksLOF funds surged in batches. PetroChina Fund LOF (160416), E Fund Crude Oil LOF (161129), Southern Crude Oil LOF (501018),Esfund Oil LOF (160723)Up by the daily trading limit. It should be noted that the aforementioned funds have all recently issued announcements warning of premium risks, as their secondary market trading prices have shown significant premiums.

On the news front, amid the ongoing escalation of tensions in the Middle East, international oil prices surged significantly, with Brent crude rising nearly 13% on the day to around $82 per barrel.

Previously, according to CCTV News, the Islamic Revolutionary Guard Corps of Iran announced on the evening of February 28 that it would prohibit any vessels from passing through the Strait of Hormuz. Reports indicated that, with the transit of oil tankers and other vessels through the Strait of Hormuz halted, the strait had effectively been closed.

On March 1 local time, an oil tanker attempting to pass through the Strait of Hormuz was hit. On the same day, Maersk issued a notice of rerouting via the Cape of Good Hope for the Middle East to India to the Mediterranean route (ME11) and the Middle East to India to the East Coast of the United States route (MECL). Maersk stated that due to the escalation of military conflict in the Middle East leading to a deteriorating security situation, after close coordination with security partners, it has decided to temporarily suspend the Suez Canal route through the Bab al-Mandeb Strait. Starting immediately, all ME11 and MECL routes will be rerouted to sail via the Cape of Good Hope.