Shares of Shandong Molong Petroleum Machinery Company Limited (00568) experienced a significant rise of over 12% during the morning session. At the time of reporting, the stock was up 12.07%, trading at HK$6.50 with a turnover of HK$261 million.

This upward movement coincides with a sharp increase in oil prices. Both Brent and WTI crude benchmarks saw gains exceeding 3% this morning. Notably, the price of Brent crude touched $91 per barrel, marking the first time it has reached that level since June 11th.