The Zhitong Finance App learned that oil and gas stocks were mostly higher. As of press release, CNOOC Oilfield Services (02883) rose 5.04% to HK$8.03; Shandong Molong (00568) rose 3.23% to HK$3.84; Sinopec Oil Services (01033) rose 2.34% to HK$0.655; and CNOOC (00883) rose 1.57% to HK$24.66.

According to the news, mutual attacks between Yemen and Saudi Arabia are spreading. On October 14, local time, according to an official in charge of the Saudi Ministry of Energy, Saudi Aramco's administrative office building in Dhahran in eastern Saudi Arabia was attacked, causing no injuries. US President Trump said in a social media post on the 13th that the Houthis attacked Saudi Arabia with “very bad” methods and probably deliberately pushed up oil prices before the US midterm elections.

Dongwu Securities believes that the geographical conflict is expected to further strengthen global energy security demands and push the oil and gas capital expenditure center upward. After returning to the Russian-Ukrainian conflict in 2022, oil and gas prices remained high, upstream oil and gas companies' cash flow improved markedly, capital expenditure rebounded, and further skewed towards LNG, deep-sea oil and gas, and unconventional energy.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.