Geopolitical tensions and tariff disruptions lead to a surge in limit-up hits in the oil and gas sector; multiple concept stocks see increased funding from retail investors this year

On the first trading day of the Year of the Horse, oil and gas concept stocks continued to rise, with Tongyuan Petroleum and Xinjin Power hitting the 20% daily limit. Nearly ten stocks, including Zhongman Petroleum, Shandong Molong, Zhunyou Shares, and CNPC Engineering, also hit the daily limit with strong gains; Keli Shares and Qianeng Hengxin led the gains; China National Offshore Oil Corporation (CNOOC) surged over 8%, with the stock price hitting a new all-time high during trading, and its total market value rising to 1.77 trillion yuan.

Oil Price Surge Boosts Sector Trading Enthusiasm

In terms of news, the international crude oil market rebounded strongly during the Spring Festival holiday, with Brent crude futures rising over 5% and US WTI crude futures increasing over 4% in total.

The fluctuations in US-Iran relations and sudden changes in US trade policies are key factors influencing oil price trends.

According to reports from China News Service citing foreign media, sources said that US President Trump has told his advisors he is “inclined to carry out a preliminary strike on Iran in the coming days,” followed by a larger-scale military attack in the coming months to force Iran to “yield” and reach an agreement favorable to the US.

According to latest reports from China National Radio, Iran’s Foreign Ministry spokesperson Bagheri stated that any attack on Iran would be considered an invasion and would bear corresponding consequences. Iran is currently formulating plans and hopes to hold a new round of talks with the US in the coming days.

Regarding tariffs, the US Supreme Court announced on February 20 that the large-scale tariff policies enacted under the International Emergency Economic Powers Act by the Trump administration were unlawful.

On the same day, Trump issued a new executive order, announcing a 10% import tariff on global goods starting February 24 for 150 days to replace the previously declared tariffs found unlawful by the Supreme Court. The next day, he announced on social media that the “global import tariff” rate would increase from 10% to 15%.

According to CCTV News, on the 23rd local time, US media reported that the US government is considering imposing new tariffs on about six industries—including large batteries, industrial chemicals, power grids, and telecommunications equipment—under the pretext of “national security.” These new tariffs will be implemented separately from the recent announcement of a 15% global tariff.

Institution: Future Price Fluctuations May Increase

Looking ahead to oil prices, Southwest Futures believes that before US-Iran relations ease, geopolitical risks will remain high, pushing up crude oil prices. Meanwhile, major US oil companies are currently extracting Venezuelan crude oil, with capacity utilization reaching about 35%, exerting some pressure on oil prices. “Overall, Brent crude prices above $70 are expected to remain strong.”

Shenwan Hongyuan Futures’ latest research report indicates that future attention should be paid to whether the US will implement military strikes and the specific intensity of such strikes. If the strikes are limited, similar to the attack on nuclear facilities in July last year, the impact on the global oil market will be relatively small. Oil prices may temporarily spike and then revert to fundamentals. However, if the US launches attacks aimed at overthrowing the Iranian regime, and the conflict becomes prolonged and expanded, oil prices could rise sharply.

“Short-term, the oil market will continue to show increased volatility under the intertwined effects of Middle Eastern geopolitical risks and macroeconomic disturbances,” said Nanhua Futures. They noted that the core of short-term international oil pricing remains the Middle Eastern geopolitical risk premium, and the development of US-Iran issues will continue to influence market trends. Additionally, during the Spring Festival holiday, the US Energy Information Administration (EIA) reported a larger-than-expected decrease in crude oil inventories, providing some support to market prices.

Multiple Oil and Gas Stocks Secured Financing in the Year

According to Eastmoney, currently, 53 A-share stocks are involved in the oil and gas equipment and services sector, with a total market value exceeding 2.4 trillion yuan. China National Offshore Oil Corporation (CNOOC) leads by a large margin, with Jereh Group also surpassing 100 billion yuan in market value, followed by CNOOC Engineering and CITIC Special Steel.

Since 2026, nearly 80% of oil and gas equipment and service stocks have seen their prices rise, with Tongyuan Petroleum leading the gains, followed by Qianeng Hengxin, Keli Shares, Zhongman Petroleum, and Zhunyou Shares.

Data from Eastmoney Choice shows that in the current year, 21 oil and gas equipment and service stocks received net financing inflows. Among them, Zhongman Petroleum attracted 172 million yuan in financing, while Sifangda and CNOOC Engineering saw leveraged funds increase by 125 million and 109 million yuan respectively. Six stocks, including Sinopec Oilfield and CNOOC Development, had net financing exceeding 30 million yuan.

Cinda Securities previously noted that Zhongman Petroleum benefits from rapid growth in oil and gas production and is expected to maintain good performance through 2026-2027.

Recently, Sifangda stated during institutional research that the company will continue to strengthen its market competitiveness by optimizing product strategies in resource extraction and engineering construction fields, consolidating existing advantages, and accelerating market penetration domestically and abroad.

CNOOC Engineering recently released its 2026 strategic guidance, estimating capital expenditures of about 8.44 billion yuan for 2026. CICC expects that after CNOOC enters a new “Fifteen-Year” capital expenditure cycle driven by steady production demand, it will likely bring stable workload to CNOOC Engineering’s domestic operations, with the utilization rate of its drilling platforms remaining high.

(Source: Eastmoney Research Center)