IEA expects April oil supply losses to double month-on-month; Hong Kong stock oil and gas sector rises, Shandong Molong up nearly 20%

Cailian Press, April 2 (Editor: Feng Yi) — Influenced by Trump’s tough stance, international oil prices rebounded and surged, and the Hong Kong stock market’s oil and gas sector also saw an upward rally in the afternoon.

As of press time, Shandong Molong(00568.HK) rose nearly 20%, Baqian Oil Services(02178.HK) increased about 17%, and China Petroleum International(00346.HK) and several other stocks rose over 4%.

On the news front, Trump’s strong stance during his speech shook the market, dampening the previously high expectations for a quick ceasefire.

On April 1, local time, U.S. President Trump delivered a nationwide speech. Trump stated that in the coming weeks, there will be stronger military strikes against Iran. He also threatened that if an agreement cannot be reached, the U.S. will launch fierce attacks on all of Iran’s power plants.

As Trump’s inflammatory remarks escalated, international crude oil futures jumped during the Asian trading session. Brent crude futures’ main contract temporarily expanded its gains to nearly 7% intraday. As of press time, Brent crude and WTI crude futures both rose over 6% for the main contracts, stabilizing above $105 per barrel.

Dongwu Futures analysis noted that although the US-Iran situation has temporarily eased, significant disagreements remain in negotiations, making a comprehensive ceasefire unlikely. Geopolitical risk premiums are still present, and costs remain supported.

It is also worth noting that the International Energy Agency (IEA) Director Fatih Birol expects oil losses in April to be twice those in March, with about 40 key energy assets in the Middle East damaged, further intensifying market concerns over oil supply.

Guojin Securities also pointed out that the escalation of Middle East geopolitical conflicts directly pushed up international oil prices and disrupted supply expectations. Oil and gas prices remain high, boosting the prosperity of the oil services industry. In the short term, the operational volume of oil service companies is also expected to increase rapidly.