Hong Kong Oil Stocks Surge on July 20 Amid Iran Tanker Incident; CNOOC, CNPC Up Over 5%

According to MSX.COM, Hong Kong oil and gas stocks surged on July 20 early morning local time. China National Offshore Oil Corporation (00883.HK) and China National Petroleum Corporation (00857.HK) both rose over 5%, while China Petroleum & Chemical Corporation (00386.HK) rose over 2%, and Shanghai Petrochemical Company (00338.HK) climbed nearly 2%.

Earlier on July 20 local time, Iran's Islamic Revolutionary Guard Corps stated that two tankers attempted to transit through the southern shipping lane of the Strait of Hormuz on the evening of July 19 under U.S. coercion and pressure, subsequently experienced explosions, and were prevented from continuing passage.