On July 21, CNOOC fell 3.1% in regular trading, trading at HK$23.16/share, with turnover of HK$657 million. The three major Chinese oil majors declined collectively, with PetroChina down over 2% and Sinopec down nearly 1%.

On the news front, US-Iran tensions showed signs of easing, triggering a pullback in oil prices. A senior Iranian official stated that a mediator in US-Iran negotiations has proposed a 10-day ceasefire aimed at de-escalating the current situation and restoring implementation of the memorandum of understanding reached last month. Brent crude fell nearly $0.50 in early Asian trading, losing the $87/barrel level with an intraday decline of approximately 0.58%.

Oil stocks are highly correlated with international crude prices. Previously, escalating US-Iran conflict had driven a near-10% single-day surge in oil prices. The marginal easing in geopolitical tensions is now prompting the market to unwind the prior risk premium, weighing broadly on the upstream oil and gas sector.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)