In early trading on Wednesday, the oil and gas sector fell sharply. As of press time, Quasi-oil shares fell more than 7%, Tongyuan Petroleum , Hengtai Aipu, Renzhi shares, Deshi shares, etc. all fell.
Sanctions against Russia have been escalated, and international oil prices have continued to soar.
On the news, the United States and Europe have announced increased sanctions against Russia.
According to CCTV News, on March 8, local time, US President Biden gave a speech at the White House and announced a ban on the United States importing Russian oil, natural gas and energy. The European Commission proposed on the same day that EU countries would cut 2/3 of their natural gas imports from Russia this year. The proposal requires the unanimous consent of the 27 EU member states before it can take effect. Previously, Germany and the Netherlands expressed clear opposition to the energy import ban. . The
news stimulated WTI crude oil futures and Brent crude oil futures to surge by more than 7% during the session, with the latter approaching US$133/barrel. The gains of the two oils subsequently narrowed. U.S. oil closed at $123.7/barrel, an increase of 3.6%; Brent oil rose 4.3% throughout the day to $123.21/barrel.
Regarding the future trend of oil prices, CITIC Construction Investment research report pointed out that Russia accounts for 8% and 13.4% of the oil imports of the two countries respectively. Therefore, the import ban has a strong tightening effect on the market, and the signal it sends is European and American sanctions against Russia have not ended yet. The market is slowly depleting existing inventories. If the dispute is not resolved, oil prices, coal prices, and gas prices as a whole will maintain a pattern of easy rising and difficult falling.
Oil and gas stocks have fallen back, and many stocks have recently warned of risks.
Oil prices have been rising sharply, but A shares The oil and gas sector has begun to fluctuate and fall in recent days. Zhunyou shares fell more than 3% on Monday, ending the seven-game losing streak.
html On March 8, Zhunyou Co., Ltd. responded to a letter of concern from the Shenzhen Stock Exchange stating that although international crude oil prices continue to rise, most of the company's major customers' service projects in 2021 will still be settled at the price after the price reduction in 2020. At present, except for the settlement prices of oil and water well overhaul and other businesses that will return to normal year levels from September 2021, the settlement prices of the company's other business projects have not yet recovered. Therefore, there is still uncertainty about the impact of the recent rise in international oil prices on the company's future performance. At the same time, the mobile equipment used in the company's main oil service business mainly uses gasoline and diesel as power fuel. The rise in the price of refined oil will partially increase operating costs.Previously, Zhunyou Shares had warned of risks. The company's fundamentals have not changed significantly, and the recent stock price increase has deviated from the company's fundamentals.
Tongyuan Petroleum also issued an announcement stating that high oil prices will stimulate oil companies to be more motivated to increase capital expenditures in oil and gas exploration and development, which will have a positive impact on the business development of oil services companies. However, there is uncertainty about whether the capital expenditure can be increased in the end, and there is also uncertainty about the impact on the company's future performance.
Backken Energy also stated that the recent war between Russia and Ukraine is still continuing, and it is unpredictable when normal construction can resume. In addition, due to the uncertainty in the evolution of the war situation, this war still poses many risks and hidden dangers to the company's operations and future development.
