Petroleum stocks fell in the afternoon. As of the time of publication, Kunlun Energy (00135) fell by 3.29%, reporting 8.52 Hong Kong dollars; Sinopec (00386) fell by 3.17%, reporting 4.88 Hong Kong dollars; PetroChina (00857) fell by 3.15%, reporting 7.98 Hong Kong dollars; CNOOC (00883) fell by 2.4%, reporting 22.4 Hong Kong dollars.
According to the smart finance and economics app, petroleum stocks fell further in the afternoon. As of the time of publication, Kunlun Energy (00135) fell by 3.29%, reporting 8.52 Hong Kong dollars; Sinopec (00386) fell by 3.17%, reporting 4.88 Hong Kong dollars; PetroChina (00857) fell by 3.15%, reporting 7.98 Hong Kong dollars; CNOOC (00883) fell by 2.4%, reporting 22.4 Hong Kong dollars.
On the news front, Hurricane Belier did not cause significant losses to crude oil production and refining infrastructure along the Gulf of Mexico, easing concerns about supply shortages and causing international oil prices to continue to fall. The settlement price of WTI crude oil futures fell by 1.12%, reporting 81.41 US dollars per barrel; Brent crude oil futures settlement price fell by 1.27%, reporting 84.66 US dollars per barrel. In addition, the EIA's short-term energy outlook report expects WTI crude oil prices to be $82 per barrel this year and Brent prices to be $86 per barrel.
Morgan Stanley's research report stated that it would give a 'shareholding' rating to CNOOC, and raised its target price from 19.8 Hong Kong dollars to 22.7 Hong Kong dollars. Investors have recently been inclined to shift towards high-yield stocks. With a bond yield rate of only 2.3% relative to the ten-year Chinese government bond, CNOOC H shares still offer a yield rate of over 6%, which has driven an inflow of funds into the stock and provided room for re-rating.