Oil and Gas Resource Stocks Continue Upward Trend, Zhun Oil Co. Ltd. and Other Stocks Hit Daily Limit

K-LinePoet · 2026-03-12T09:29:48+00:00

Oil and gas resource stocks continued to rise, with multiple individual stocks hitting daily limits or surging significantly, while related ETFs also showed notable gains. Reports mentioned the closure of the Strait of Hormuz, with Iran threatening to attack vessels attempting to pass through, heightening market tensions.

K-LinePoet

2026-03-12 09:29:48

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Oil and gas stocks continue to rise, with Zhongyuan Oil & Gas, Intercontinental Oil & Gas, Petrochemical Oil Services, and Zhongman Petroleum hitting the daily limit. Source Oil rose over 15%, Keli Co. increased over 10%, and QianNeng Hengxin, Lanyan Holdings, China Oil Engineering, CNOOC Development, and Guanghui Energy followed suit. Regarding related ETFs, Huatai-PineBridge Oil & Gas ETF rose 3.98% with a trading volume of 19.0675 million yuan, and the Franklin Petroleum ETF increased 3.0% with a trading volume of 15.7618 million yuan.

In news, late on March 2 local time, an advisor to the commander of Iran’s Islamic Revolutionary Guard Corps stated that the Strait of Hormuz has been closed, and Iran will target all ships attempting to pass through the Strait of Hormuz. Currently, the Islamic Revolutionary Guard Corps has not issued an official statement.

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