Petroleum ETF Penghua closes nearly 1% higher, with institutions stating that oil transportation will enter a phase of high prices and increased volume. China Merchants Nanyou and COSCO Shipping Energy rise to the daily limit.

Ask AI · How does the pricing of the oil transportation supply chain in the “chaotic era” compare to the 2020 shipping inventory replenishment?

The oil transportation sector rose today, with China Merchants Energy and COSCO Shipping Energy hitting the limit up. Institutions pointed out that the situation has changed today; it was previously frozen, which is relatively favorable for oil transportation. The oil sector has digested the negative feedback from two 10cm price movements and has returned to the oil transportation logic before the outbreak of conflict. There may still be emotional disturbances ahead, but the probability of returning to a trend has increased. The pricing of the oil transportation supply chain is now considered under “chaotic era” pricing, shifting from efficiency pricing to certainty pricing, similar to the shipping inventory replenishment phase during 2020. The expectation of rising prices and shrinking volumes in the short term has already been accounted for; in the medium term, the crude oil replenishment cycle is approaching; in the long term, the logic of long-term control by Changjin Shipping to go long continues, and oil transportation will enter a phase of high prices and increased volumes.

As of March 24, 2026, 15:00, the National Securities Oil and Gas Index (399439) rose by 0.76%, with component stocks China Merchants Energy up 10.02%, COSCO Shipping Energy up 9.99%, China Merchants Industry up 6.47%, Xin Tian Green Energy up 6.07%, and Nanjing Public Utilities up 5.83%. The Oil ETF Penghua (159697) rose by 0.81%, with the latest price reported at 1.49 yuan.

The Oil ETF Penghua closely tracks the National Securities Oil and Gas Index, which reflects the changes in the securities prices of publicly listed companies in the oil and gas industry on the Shanghai and Shenzhen Stock Exchanges.

Data shows that as of February 27, 2026, the top ten weighted stocks in the National Securities Oil and Gas Index (399439) are China National Petroleum Corporation, China National Offshore Oil Corporation, Sinopec, Jereh, China Merchants Industry, COSCO Shipping Energy, Guanghui Energy, Intercontinental Oil and Gas, Jiufeng Energy, and New Natural Gas. The top ten weighted stocks account for a total of 67.92%.