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Oil and gas resource stocks open higher across the board, with China National Offshore Oil Corporation and others hitting the daily limit up
Oil and gas stocks opened higher across the board, with Guanghui Energy, Shandong Molong, Zhunyou Co., Ltd., Sinopec Oilfield Services, and CNOOC hitting the daily limit. Tanyuan Petroleum surged over 15%, Tianhao Energy, Deshi Co., Ltd., Xinjin Power rose over 10%, Beiken Energy, China Petroleum, CNOOC Development, Haimer Technology, and Sinopec also gained. In related ETFs, the Petroleum ETF by Fuguo (159148) rose 7.12%, with a trading volume of 9.8234 million yuan; the Oil & Gas ETF by Huatai-PineBridge (159309) increased 6.62%, with a trading volume of 19.5961 million yuan. On the news front, escalating Middle East conflicts triggered oil prices to break above $110, with ongoing supply concerns continuing to ferment.