Shanghai, January 11, 2026, 04:22 GMT+8 — Market closed.
- PetroChina’s Shanghai-listed Class A shares ended higher on Friday, hovering around the 10-yuan level into the weekend.
- A late-week jump in crude prices, driven by Iran and Venezuela headlines, kept energy in focus.
- Investors now look to Monday’s reopen and PetroChina’s next scheduled results date for the next clear catalyst.
PetroChina Co Ltd’s yuan-denominated Class A shares in Shanghai (601857.SS) last closed up 0.7% at 9.87 yuan on Friday. The stock traded between 9.73 and 10.04 yuan, with about 207.6 million shares changing hands. 1
Mainland markets are shut for the weekend, but the risk sits there anyway. Oil is moving on politics again, and PetroChina is a clean onshore proxy when traders want exposure without leaving the A-share tape.
That matters now because crude has started to swing more sharply, and the gap from Friday’s close to Monday’s open can be awkward. PetroChina’s earnings mix spans exploration and production (the upstream business) as well as refining and fuel marketing, so it does not get a straight-line lift from higher crude.
Oil prices jumped on Friday, with Brent settling 2.2% higher at $63.34 a barrel and U.S. WTI ending up 2.4% at $59.12. “The uprising in Iran is keeping the market on edge,” said Phil Flynn, a senior analyst at Price Futures Group, while Saxo Bank’s Ole Hansen said “Iran protests seem to be gathering momentum.” 2
In Washington, the White House convened a meeting on Friday with oil producers, refiners, traders and services firms to discuss potential investment in Venezuela’s energy sector, a White House official said. The list included Chevron, Exxon Mobil, ConocoPhillips and Shell, as well as trading houses Trafigura and Vitol, according to the official. 3
For PetroChina, firmer crude can support the upstream line, especially if volatility persists and benchmarks hold their gains into Asia. But China’s fuel demand and refinery economics still do a lot of the work, and they do not always move in step with global oil.
Technically, Friday’s tape left traders staring at a simple map: 10 yuan overhead, and support near the day’s low around 9.73 yuan. A clean push through Friday’s 10.04 high would put the stock back into a momentum pocket; a slip below the low would likely pull in fast sellers.
But the setup cuts both ways. If the supply-risk premium fades — or if markets decide the headlines add barrels rather than remove them — crude can slide quickly, and the bid in oil-linked shares tends to thin out.
The first thing investors will watch is the Monday, January 12 reopen in Shanghai, and whether crude holds its footing in early Asia trade. Beyond the tape, the next marked date on many calendars is PetroChina’s next earnings release, listed for March 30. 4
Monday’s open is the near test; March 30 is the next scheduled one.
