Core Viewpoint - Asian morning oil prices have slightly declined due to market expectations that U.S. sanctions on Russian oil giants may not be as severe as anticipated [1] Group 1: Oil Price Movement - Near-term West Texas Intermediate (WTI) crude futures fell by 0.3%, trading at $61.14 per barrel [1] - Near-term Brent crude futures also decreased by 0.3%, priced at $65.45 per barrel [1] Group 2: Supporting Reasons - One reason for the price movement is that most of Russia's transactions are now conducted in rubles or other "friendly" currencies [1] - Another reason is that OPEC has expressed willingness to increase production if necessary [1]

Core Viewpoint - The Hong Kong stock market saw an initial rise in the shares of the three major oil companies, driven by an increase in oil prices following new sanctions imposed by the U.S. on Russian oil companies due to the ongoing Russia-Ukraine conflict [1]. Group 1: Oil Price Movement - Oil prices in Asia rose significantly, with West Texas Intermediate crude futures increasing by 2.9% to $60.22 per barrel and Brent crude futures also rising by 2.9% to $64.39 per barrel [1]. - The rise in oil prices is attributed to the U.S. sanctions on Russia's largest oil producers, which has alleviated concerns over supply excess amid signs of excessive recent selling and a decrease in U.S. crude oil inventories [1]. Group 2: Company Performance - China National Offshore Oil Corporation (CNOOC) saw its stock price increase by 2.36%, reaching HKD 19.960 [1]. - PetroChina's stock rose by 1.01%, reaching HKD 7.970 [1]. - Sinopec's stock experienced a smaller increase of 0.48%, reaching HKD 4.150 [1].

Core Viewpoint - Oil prices have slightly increased ahead of a meeting between U.S. President Trump and Russian President Putin, with market participants showing caution regarding potential changes in sanctions on Russian oil [1] Group 1: Oil Price Movement - West Texas Intermediate (WTI) crude futures rose by 0.1% to $64.02 per barrel [1] - Brent crude futures increased by 0.2% to $66.95 per barrel [1] Group 2: Market Sentiment - Market participants are cautious ahead of the meeting concerning the Ukraine issue, fearing that the meeting may lead to a relaxation of sanctions on Russian oil [1] - There are concerns that this could result in stricter measures against buyers of Russian oil [1]

Group 1 - Oil prices in Asia saw a slight increase due to concerns over supply disruptions, with West Texas Intermediate futures rising by 0.1% to $69.33 per barrel and Brent crude futures also up by 0.1% to $71.80 per barrel [1] - President Trump has set an August 8 deadline for Russia to reach a ceasefire agreement with Ukraine, shortening the previous 50-day timeline, which has heightened concerns over potential supply interruptions [1] - Janiv Shah, Vice President of Rystad Energy, indicated that the demand for Russia to end its invasion and achieve a full ceasefire has intensified worries regarding supply disruptions [1]

Group 1 - Oil prices increased during Asian trading hours, with West Texas Intermediate crude futures rising by 0.5% to $70.33 per barrel and Brent crude futures up by 0.4% to $73.52 per barrel [1] - President Trump warned that India could face a 25% tariff "plus fines" due to its purchase of Russian weapons and energy, criticizing India as one of the largest buyers of Russian energy [1] - As a result of these potential measures, Indian company Nayara Energy has reduced the processing rate at one of its refineries, raising concerns about tighter supply in the refined oil market, which could further drive up oil prices [1]