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Changes in Hong Kong stocks | Petroleum stocks rose again, OPEC+ extended production cuts, compounded by expectations of extended production cuts, catalyzed a rebound in oil prices for two consecutive days during the peak travel season in the US
Petroleum stocks rose again. As of press release, CNPC (00857) rose 3.4% to HK$8.21; Shanghai Petrochemical (00338) rose 2.59% to HK$1.19; and CNOOC (00883) rose 1.96% to HK$20.85.
Luyin Investment (600784.SH): Signed a joint venture framework agreement with CNPC Gas Storage Co., Ltd.
Gelonghui, May 27丨Luyin Investment (600784.SH) announced that Heze Salt, a holding subsidiary of the company, recently won the right to survey and prospecting for rock salt mines in the Maozhuang area of Shan County, Shandong Province. The “Shandong Heze Gas Storage Pilot Test Plan” organized and prepared by CNPC Gas Storage Co., Ltd. was approved by higher authorities in March 2022, and three-dimensional seismic collection and processing explanations and preliminary design documents were organized and carried out. After friendly negotiations, Heze Salt signed the “Shandong Heze Gas Storage Project Joint Venture Framework Agreement” with CNPC Gas Storage Co., Ltd. on May 25, 2024 (hereinafter referred to as “”
Changes in Hong Kong stocks | CNOOC (00883) rose more than 3%, leading the way for petroleum stocks OPEC+ to switch online in June to “three barrels of oil” and expand overseas business smoothly
Petroleum stocks rose collectively. As of press release, CNOOC (00883) rose 3.47% to HK$20.3; CNOOC Services (02883) rose 3.1% to HK$8.64; and CNPC (00857) rose 2.74% to HK$7.88.
Changes in Hong Kong stocks | Petroleum stocks bucked the trend and the market focuses on OPEC+ conference bodies are optimistic that oil prices will stop falling and recovering
Petroleum stocks bucked the trend. As of press release, CNOOC (00883) rose 2.4% to HK$19.64; CNOOC (02883) rose 1.55% to HK$8.5; and CNPC (00857) rose 0.26% to HK$7.69.
The Fed's interest rate cut is expected to fall again, and international oil prices will rise first and then fall
This week (5.16-5.22), crude oil as a whole showed a trend of rising and then falling. WTI averaged 79.18 US dollars/barrel this week, up 0.53 US dollars/barrel, or 0.67% from the previous week.
The commodity boom came to an abrupt end! Basic metals fell across the board, copper and nickel fell sharply, and crude oil fell three times in a row
The minutes of the Federal Reserve meeting show that the Federal Reserve may postpone interest rate cuts due to continued inflation, thus suppressing market expectations of interest rate cuts, and crude oil prices fell in response. Lun Copper closed down 4.05%, while Lunn Nickel fell 4.4%. Some analysts pointed out that the main reason for the decline in copper prices may be related to investors starting to make a profit settlement after copper prices hit a record high, recent weakness in copper demand, and a possible increase in copper production in Peru in 2024.
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