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Hong Kong stocks turmoil | CNOOC (00883) fell more than 5% and led the decline in petroleum stocks. Oil prices may come under pressure in the fourth quarter. Institutions state that dividends trading heat has decreased.
Petroleum stocks continued to decline in early trading. As of press time, China Oilfield Services (00883) fell by 3.71%, to HKD 20.75. PetroChina (00857) fell by 3.35%, to HKD 7.21. China Petroleum & Chemical Corporation (02883) fell by 2.85%, to HKD 6.81. Sinopec (00386) fell by 2.45%, to HKD 4.77.
Crude Prices May Be on the Cusp of a Breakdown – TDS
Downside pressures for Crude oil continue to grow as physical demand trends continue to deteriorate. Crude prices may be on the cusp of a breakdown, TD Securities Senior Commodity Strategist Daniel Ghali suggests.
Hong Kong stocks fluctuate | Petroleum stocks continue to fall in early trading due to the easing of the Middle East situation and concerns over demand. International oil prices continue to decline.
Petroleum stocks continued to fall in early trading. As of press time, CNOOC (00883) fell 4.48% to HKD 21.3; PetroChina (00857) fell 4.29% to HKD 7.58; Sinopec (00386) fell 2% to HKD 4.91.
Crude Oil Extends Declines on Chinese Demand Concerns, WTI Falls Below $80
WTI tumbled below $80.00 per barrel as Crude Oil bids crumble.
Crude Oil Is on a Brink of a Turn – TDS
Crude oil markets could be about to break down. A downtape could now force trend-followers to liquidate a massive -40% of their max size, TDS senior commodity strategist Daniel Ghali notes.
Oil Slips on Chinese Demand Concerns Despite U.S. Rate-Cut Optimism
0756 GMT - Oil prices are edging lower on concerns over China's demand outlook despite dovish comments from Fed Chair Jerome Powell ramping up bets on a September rate cut. Brent crude is down 0.7%
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