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[introduction] late at night, chinese concept stocks fell and oil surged

china fund news reporter taylor

brothers and sisters, continue to pay attention to news from overseas markets tonight.

chinese concept stocks dive

in u.s. stocks tonight, the three major indexes fell, with the dow falling more than 200 points and the nasdaq falling slightly.

the rising momentum of chinese concept stocks temporarily stopped, with the nasdaq china golden dragon index falling nearly 4% after the opening.

bilibili fell nearly 9%, and baidu fell more than 4%.

the ftse china a50 index once fell by more than 2% in night trading, but then the decline narrowed significantly.

crude oil prices surge

crude oil prices rose sharply tonight after us president joe biden said an israeli strike on iranian oil facilities was being discussed.

west texas intermediate (wti) crude oil surged as much as 5.5% to nearly $74 a barrel. when asked whether he supported israel's attack on iranian oil facilities, u.s. president joe biden responded: "we are discussing this issue." biden also said he did not expect israeli retaliation on thursday. global benchmark brent crude climbed to nearly $77 a barrel.

the latest crisis in the middle east, which accounts for about a third of global oil supplies, has rattled oil markets, with traders worried that the latest escalation could disrupt oil flows by disrupting energy facilities or blocking supply routes.

rebecca babin, senior energy trader at cibc private wealth, said, “it’s not a complete surprise to the market that energy infrastructure is being viewed as a potential target, but biden’s comments on it bring that possibility closer to reality. "there has been skepticism in the market about whether israel will actually attack oil facilities, mainly because of the influence of the biden administration, which wants to keep oil prices stable before the upcoming elections."

analysts at citigroup, including francesco martoccia, said in a report on wednesday that 1.5 million barrels per day of oil supply could be wiped off the market if israel carried out a major blow to iran's oil export capabilities. if israel targets smaller infrastructure such as downstream assets, it could reduce production by 300,000 to 450,000 barrels.