Shares of Shandong Molong Petroleum Machinery Company Limited (HKEX: 00568) have surged more than 15%. At the time of writing, the stock is up 15.3% to HK$6.17, with a turnover of HK$285 million.

Market Catalyst

International oil prices rose sharply early on June 8. Brent crude oil jumped as much as 4%, touching $97 per barrel.

This price movement follows a ballistic missile attack by Iran on the Ramat David Air Base in northern Israel on the evening of June 7 (local time). The attack was in response to Israeli military actions in Lebanon. This marks Iran's first attack on Israel since a ceasefire took effect on April 8.

In an interview on June 7, a former US leader commented that Iran's missile strike earlier that day was "not helpful for negotiations." He urged Iran to return to the negotiating table, stating, "My advice to Iran is: You've launched missiles, that's enough. Come back to the table and make a deal."