Hong Kong Stocks in Motion | Oil and Gas Stocks Decline Across the Board as US Proposes Negotiation Plan to Iran; International Oil Prices Plunge Significantly

LootboxPhobia · 2026-03-25T02:55:50+00:00

Oil and gas stocks fell broadly, with Baiqin Oil Services dropping 14.93%. International oil prices declined significantly due to negotiations between the United States and Iran, with a peace agreement proposal put forward. The market is focused on the progress of future peace talks.

LootboxPhobia

2026-03-25 02:55:50

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CITIC Finance APP learned that oil and gas stocks generally declined. As of the time of writing, Borr Drilling (02178) fell 14.93% to HKD 0.285; Kunlun Energy (00135) dropped 8.07% to HKD 7.63; Shandong Molong (00568) decreased 7.81% to HKD 9.8; CNOOC (00883) declined 5.64% to HKD 27.78; Sinopec Oilfield Service (01033) fell 4.21% to HKD 0.91.

On the news front, on March 25, international oil prices plummeted. As of the time of writing, Brent crude futures fell nearly 6% to $94.27 per barrel, WTI crude futures dropped over 5% to $87.61 per barrel. According to CCTV News, on Tuesday (24th) local time, U.S. President Trump stated that the U.S. and Iran are “currently in negotiations” and hinted that Tehran is eager to reach a peace agreement. The U.S. government also proposed an end-of-conflict plan to Iran through Pakistan, containing 15 conditions covering nuclear programs, missile capabilities, and regional issues.

It is reported that the U.S. is discussing with multiple mediators the possibility of holding high-level peace talks with Iran as early as this week, but is still awaiting a response from Tehran. Additionally, according to Israeli sources on the 24th, the U.S. intends to propose a one-month ceasefire plan to discuss the aforementioned 15-point agreement aimed at ending the war with Iran.

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