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<Research>CLSA Estimates Oil Prices to Break Above USD80/ bbl in Short Term
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The escalating geopolitical tension surrounding Iran over the weekend may lead to oil prices breaking above USD80 per barrel in the short term, CLSA estimated in a report. This development should be boon to Chinese oil companies, particularly PETROCHINA (00857.HK) and CNOOC (00883.HK), as they not only offer a dividend yield of 5-6% but also serve as low-cost inflation hedging tools. On the other hand, Chinese chemical stocks, which have outperformed recently, could be under pressure amid higher input costs. AASTOCKS Financial News Website: www.aastocks.com |
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