On July 24, CNOOC declined 3.06% in regular trading, trading at 23.52 HKD/share, with turnover of 20.67 billion HKD. The broader oil and gas sector weakened in tandem, with CHK Oil down 14.83% and United Energy Group down 3.9%.

On the news front, the US-Iran conflict mediator has proposed a 10-day ceasefire plan, and Iran's foreign ministry confirmed receipt of the proposal. Both sides are set to negotiate long-term arrangements for the Strait of Hormuz, prompting markets to unwind the geopolitical risk premium accumulated during the prior escalation period. Earlier this month, oil prices had surged over 25% as the conflict intensified, with Brent crude breaching 87 USD/barrel.

Institutions noted that current price levels warrant caution given potential reversals in news flow, recommending partial profit-taking on long positions built during the rally. Looking further ahead, analysts suggest that Gulf production capacity recovery combined with coordinated OPEC+ output increases could push crude prices back lower, removing a key support for oil equities.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)