F Samsung Crude Oil Futures (03175) rose more than 4%, gaining 4.14% to HK$10.81 by the time of writing, with a turnover of HK$15.05 million.

On the news front, according to market media reports on May 10, Iran has rejected a U.S.-proposed ceasefire plan. Key points of Iran's response include demands to lift the maritime blockade, revoke sanctions on Iranian oil sales within 30 days, and unfreeze Iranian assets. On the same day, U.S. President Donald Trump posted on social media expressing dissatisfaction with Iran's response, calling it "completely unacceptable."

Following Trump's rejection of Iran's latest long-term peace proposal, WTI crude oil futures prices surged significantly during early Asian trading on Monday. The main Brent crude oil (cash) futures contract saw a sharp increase of 3.5% at one point, reaching the key bullish level of $105 per barrel, while the main WTI crude oil futures contract rose to near the $100 per barrel mark.

A Citi research report noted that if long-term peace negotiations between the U.S. and Iran remain challenging, potentially leading to prolonged blockade and control of the Strait of Hormuz, Brent crude oil prices could rise further from recent levels around $100 after a notable pullback, possibly even reaching new阶段性 highs.