Invesco Great Wall CNI Oil&Gas ETF

Jilin Governor Hu Yuting Meets CNPC Chairman Dai Houliang to Discuss Deepening Cooperation in Green Energy and Other Fields

COSCO SHIPPING Energy Transporting to Lease 4 VLCCs for 60-63 Months with Rental of approx. 2.7 Billion RMB

Sinopec Launches Domestic 'Aipao 103' Racing Fuel Filling High-Performance Gap

CNOOC Hainan Branch Builds Largest Offshore Gas Field, Annual Oil & Gas Output Exceeds 10 Million Tonnes

COSCO Shipping Two Vessels Successfully Pass Through Strait of Hormuz

Sinopec Achieves Major Breakthrough in Shale Gas Exploration in Sichuan Basin

Kunlun Tongzhou Bay Strategic New-Economy Equity Investment Fund Established, with a Capital of 1 Billion Yuan

CNOOC Boosts Offshore Output and Reopens Huizhou Steam Cracking Unit

Kunlun GONGRONG Dianhang Strategic New Fund Partnership Established

BOCI Raises PetroChina Target Price to HKD12.85 and Maintains Buy Rating

BOC International Raises Profit Forecast for CNOOC 2026-2028

HSBC Research Maintains Buy Rating and Upgrades Target Price for PetroChina H Shares

BOC International Upgrades Sinopec Stock Target Price and Adjusts Brent Oil Forecast

China Everbright Securities Publishes Report Analyzing PetroChina's Q1 2026 Earnings at New High

Canadian LNG Canada Plant Sets New Monthly Record with Over 1 Million Tonnes of LNG Export in April

China Authorizes State-owned Refiners to Export 5 Million Tons of Fuel to Alleviate Supply Issues

CLSA Reports: PetroChina's First Quarter Performance Robust, Stronger Q2 Growth Expected

JPMorgan Upgrades CNOOC EPS Forecast and Maintains Rating

CLP and CNOOC Sign Memorandum to Deepen Energy Cooperation

603353

CRAK

BOIL

159588

Inflation has outpaced wage growth for the first time since 2023, with real wages falling 0.2% year-over-year as of April. The disruption of oil exports due to the Iran war has led to increased fuel costs, contributing to higher prices for food, housing, and transportation. This rising inflation, coupled with a stable labor market, presents a dilemma for the Federal Reserve regarding interest rate decisions, with some analysts predicting a higher likelihood of rate hikes in 2026.

- April data indicates that real wages decreased by 0.2% year-over-year as inflation exceeded pay growth for the first time since 2023.  
- The disruption of oil exports due to the Iran war has increased fuel costs, contributing to rising prices in food, housing, and transportation.  
- The persistent inflation alongside a stable labor market presents challenges for the Federal Reserve regarding interest rate decisions, with an increased likelihood of rate hikes in 2026 suggested by some analysts.

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Inflation surge erases wage gains for first time since 2023

Australia's Treasurer Jim Chalmers stated that the country will avoid recession even if oil prices rise to $200 a barrel due to the ongoing Middle East conflict. He outlined a national budget that is significantly influenced by international events. Chalmers presented two economic scenarios: one where oil prices stabilize around $100, and a severe scenario with prices peaking at $200, leading to higher inflation and unemployment. Despite these challenges, Australia is better positioned than many countries to handle the crisis, benefiting from high commodity prices while also addressing low petrol reserves.

Yahoo Finance

 BHP Group Ltd

BHP Group Plc

Australia's economy 'hostage' to Middle East war: Treasurer

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Surveys indicate that the ongoing war in Iran is significantly impacting global business. Confidence levels in Australia and the U.S. have plummeted, with notable declines in hiring and investment plans due to rising costs. Industries such as electronics and automotive are experiencing supply chain disruptions and soaring raw material prices. Additionally, disruptions in the Strait of Hormuz have reduced oil flows, leading to record reserve releases that may only provide temporary relief to the escalating global supply gap.

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Surveys show Iran war's deepening toll on global business

LNGZ

Liquefied natural gas (LNG) imports to China are recovering as buyers replace disrupted shipments due to the Middle East conflict. The 30-day moving average for imports has reached its highest since February, although still below the five-year average. The closure of the Strait of Hormuz has impacted global LNG supply, with Qatar halting exports. Despite challenges, China's petrol sector is better insulated, and alternative fuel sources are available. However, rising temperatures and declining petrol inventories may increase demand for LNG, putting pressure on imports as spot prices remain high.

Businesstimes News

Range Global LNG Ecosystem ETF

China LNG imports hint at recovery as buyers replace lost supply

Sen. Mark Kelly (D-Ariz.) questioned the U.S. war against Iran, suggesting it could weaken America's global defense posture, particularly regarding Taiwan. He criticized the Biden administration for escalating conflict and rising costs, noting that Americans are largely opposed to the war. The conflict has led to increased oil and gas prices, with the average gas price now at $4.52 per gallon. Recent reports indicate Iran has responded to a U.S. peace proposal, focusing on halting regional hostilities.

Thehill

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Kelly on Iran war: 'What are the American people getting out of this?'

600547

On May 5, Ayatollah Velayati, foreign affairs advisor to Iran's Supreme Leader, declared that Iran and the US are still in a state of war. He stated that the Strait of Hormuz is closed and will remain so unless decided otherwise by Iran. Velayati dismissed US President Trump's claims regarding Iran's missile capabilities as unfounded, emphasizing Iran's ongoing resistance against the US.

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Iran's Supreme Leader's Foreign Affairs Advisor: Iran and the US are still in a state of war.

Oil prices surged over 5% due to escalating tensions between Iran and the UAE, raising concerns about supply disruptions in the Middle East. Brent crude reached around $114 per barrel, while WTI crude rose above $105. Iran's missile and drone attacks on the UAE and vessels in the region have heightened fears, particularly regarding the Strait of Hormuz, a critical chokepoint for global oil supplies. The US has initiated a military operation to ensure safe passage through the strait, but uncertainty remains high as Iran threatens US warships, impacting energy market stability.

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Exxon Mobil

Oil surges 5% as Iran attacks UAE, Strait of Hormuz risks rise

CRUD

Stocks declined as tensions in the Middle East escalated, with the S&P 500 down 0.35% and the Dow Jones down 0.75%. The decline followed an Iranian drone attack in the UAE, raising concerns over oil supply through the Strait of Hormuz. Despite initial gains, driven by strong corporate earnings and AI investments, the market reacted negatively to geopolitical risks. WTI crude oil prices rose over 3% due to the attack. Earnings reports showed 82% of S&P 500 companies exceeded estimates, with projected earnings growth of 12% year-over-year for Q1.

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ORACLE CORP DEPOSITARY SH REP 1/2000TH PFD SER D

Stocks Turn Lower as Middle East Tensions Rise

SHEL

US equity futures declined as the Iran-US conflict continues, impacting oil prices. Dow futures fell 0.4%, S&P 500 futures dropped 0.2%, and Nasdaq futures decreased by 0.1%. President Trump announced US assistance for vessels in the Persian Gulf, while Iran warned against US military presence. Oil prices rose, with Brent crude at $111.89 per barrel and WTI at $104.93. Upcoming earnings reports include Palantir, AMD, HSBC, Arm, Shell, and McDonald's. March factory orders are projected to increase by 0.6%.

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Shell

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HSBC HOLDINGS

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US Equity Futures Slip as Middle East Conflict Enters Third Month, Oil Prices Rise

Transportation Secretary Sean Duffy stated that U.S. gas prices could drop quickly if shipping through the Strait of Hormuz resumes. He emphasized that while immediate price relief would occur, full stabilization would take longer. Duffy's comments come amid rising gas prices, which have surged to $4.43 per gallon due to tensions affecting global supply routes. Additionally, former President Trump announced 'Project Freedom' to assist commercial ships in the Strait, aiming to ensure safe passage and mitigate disruptions in global trade.

benzinga_article

Alerian MLP

First Trust North American Energy Infra Fd

Sean Duffy Says Gas Prices Could Drop Fast If Strait Of Hormuz Reopens: 'You'll See Prices Come Down...Immediately'

Invesco Great Wall CNI Oil&Gas ETF(159588.SZ)