On Wednesday, oil equipment and services stocks in the Hong Kong market rallied across the board. Among them, SHANDONG MOLONG surged nearly 10%. The U.S. military again struck Iran, with President Trump calling the operation “large and strong.” Iran’s armed forces announced they had launched operations in response to the U.S. attacks.

Oil prices spiked, with WTI crude futures rising intraday to $92.29 per barrel and Brent crude futures to $93.30 per barrel.