Stock Track | PETROCHINA Soars 5.24% Intraday as Middle East Conflict Sparks Oil Price Surge

Stock Track03-02 09:31

PETROCHINA's stock surged 5.24% at market open on Monday, riding a wave of bullish sentiment in the energy sector following a sharp rise in international oil prices.

The rally comes as Brent crude jumped 13% to $82 per barrel after attacks on Iran by the US and Israel, with reports indicating Iran's Supreme Leader Ayatollah Khamenei was killed in the strikes. Iran's Islamic Revolutionary Guard Corps announced it was prohibiting vessels from passing through the Strait of Hormuz, a critical chokepoint through which about one-fifth of the world's crude oil is transported.

Analysts from Barclays warned that oil markets face a worst-case scenario, with Brent crude potentially reaching $100 per barrel. The disruption to Middle Eastern oil supplies has created significant upside pressure on oil prices, benefiting major producers like PETROCHINA. The company, which processed over 1 billion barrels of crude oil in the first three quarters of 2025, stands to gain from higher energy prices amid the geopolitical turmoil.

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