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Petroleum ETF Penghua hits three consecutive gains, driven by concerns over shrinking crude oil supply pushing oil prices higher
On the news front, geopolitical tensions in the Middle East continue to escalate, and oil prices have been trending higher recently. The settlement price of the WTI crude oil May contract closed at $111.54 per barrel, up 11.41%; the settlement price of the Brent crude oil June contract closed at $109.03 per barrel, up 7.78%.
Shenwan Hongyuan Research said that the oil tanker transportation market has entered a strong boom cycle. In Q4 2025, the average VLCC freight rate was $95,000 per day, up 166.52% year over year. The main drivers are the freight premium brought about by the fragility of the international shipping supply chain during wartime, as well as reduced transportation efficiency caused by global trade disruption. Over the medium to long term, the “panic” energy stock-replenishment cycle combined with the diversification of Asian import sources will significantly lengthen shipping distances. In addition, the rising concentration of the VLCC market is further strengthening pricing power among leading shipowners, opening up more room for freight-rate elasticity.
As of 09:31 on April 3, 2026, the Guozheng Petroleum and Natural Gas Index (399439) rose 0.33%. Among constituent stocks, COSCO Shipping Energy rose 5.85%, China Merchants Ship rose 5.55%, PetroChina Engineering rose 4.26%, China Merchants South America Oil rose 4.17%, and Xingtong Co., Ltd. rose 1.16%. The Penghua Petroleum ETF (159697) rose 0.40%, hitting a three-day streak of gains. Its latest price was 1.49 yuan.
The Penghua Petroleum ETF closely tracks the Guozheng Petroleum and Natural Gas Index. The Guozheng Petroleum and Natural Gas Index reflects changes in the security prices of listed companies related to the petroleum and natural gas industry on the Shanghai, Shenzhen, and Beijing exchanges.
According to data, as of March 31, 2026, the top ten holdings of the Guozheng Petroleum and Natural Gas Index (399439) are China National Petroleum, China National Offshore Oil, Sinopec, Jereh, China Merchants Ship, COSCO Shipping Energy, Guanghui Energy, Intercontinental Oil & Gas, New-A Shares, and China Merchants South America Oil. The combined share of the top ten holdings is 69.48%.