3 Oils Head South; CNOOC Once Slips ~7%

　　The three Chinese oils marked deeper downswing. CNOOC (00883.HK) -1.050 (-4.709%) Short selling $342.88M; Ratio 24.265% opened flat today, with the lowest point at $20.75, slipping 6.95% once, and hitting a new low since June 2024. It last traded at $21.15, down 5.16%, with 107 million shares traded, involving $2.293 billion.

　　PETROCHINA (00857.HK) -0.360 (-4.545%) Short selling $203.04M; Ratio 30.912% opened 0.13% lower and bottomed at $7.48. It last at $7.56, down 4.55%, with 65.6416 million shares traded, involving $501 million.

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　　SINOPEC CORP (00386.HK) -0.140 (-2.789%) Short selling $197.01M; Ratio 32.908% opened flat today, lowest at $4.86, and last at $4.89, down 2.59%, with 23.3566 million shares traded, involving $115 million.

　　Goldman Sachs said in an oil report that Brent crude oil prices fell faintly last week. The market reacted to the lower-than-expected GDP data from mainland China, and the International Energy Agency (IEA)s earlier downward adjustment on global demand forecasts for 2024 and 2025.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-16 16:25.)

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