China's 'Big Three' Oil Majors Issue Trading Alerts Following Stock Surges

ForkLibertarian · 2026-03-04T04:00:03+00:00

China's oil giants issued trading alerts after share prices surged due to the escalating Middle East conflict affecting oil supply. While prices rose initially, shares of PetroChina, Sinopec, and Cnooc fell following the alerts.

ForkLibertarian

2026-03-04 04:00:03

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By Sherry Qin

China’s oil majors simultaneously issued trading-volatility alerts, after their shares surged on the escalating Middle East conflict that is disrupting oil supply.

Shanghai-listed PetroChina, Cnooc Ltd. and China Petroleum & Chemical Corp., better known as Sinopec, issued the alerts late Tuesday and reminded investors of trading risks.

PetroChina said its “share price increased by more than 20% in the three consecutive sessions from Feb. 27 to March 3,” adding that oil prices could fluctuate as the oil market is affected by geopolitical conditions and supply-demand dynamics.

Sinopec and Cnooc cited similar reasons in their alerts.

The widening Middle East conflict has halted traffic through the Strait of Hormuz, a chokepoint for energy markets, sending front-month Brent more than 10% higher so far this week. Brent was up 1.4% at $82.54 a barrel in early Asian trading Wednesday, while West Texas Intermediate crude was up 1.2%.

Analysts said that a prolonged conflict could propel oil prices to $100 a barrel and push up global inflation.

Shanghai-listed shares of the “Big Three” plunged on Wednesday morning following the warnings. PetroChina shed 3.65%, Sinopec was 6.8% lower and Cnooc declined 4.0%.

Write to Sherry Qin at [email protected]

(END) Dow Jones Newswires

March 03, 2026 21:18 ET (02:18 GMT)

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