Stock Price Surge and Company Statements

Following a US-Israeli joint strike on Iran, the Shanghai-listed shares of PetroChina, Sinopec Corp, and CNOOC Ltd experienced significant increases. Their share prices soared on Monday and Tuesday, hitting the daily 10% upper trading limit on both days. This surge prompted the companies to issue filings in response to abnormal fluctuations in their stock trading.

Official Responses to Market Volatility

In their exchange filings, the three state-owned majors stated that after self-inspection, their current production and operations remain normal. They attributed recent volatility in the global crude oil market to multiple factors, including geopolitical situations and supply-demand dynamics, which have led to significant fluctuations in crude oil prices. The companies emphasized that short-term oil price movements remain highly uncertain and advised investors to exercise caution and be mindful of risks.

Context of the Price Deviation and Operational Status

The companies specified that the closing price of their shares had deviated cumulatively by more than 20% over three consecutive trading days. They further clarified that there have been no major recent changes in industry policies, their internal operations are proceeding normally, and they have identified no media reports, market rumours, or trending issues requiring clarification or response.

Subsequent Market Movement

After the surge earlier in the week, the Shanghai-listed share prices of these companies declined beginning on Wednesday.