Shanghai, Jan 25, 2026, 04:54 (GMT+8) — Market closed
- PetroChina Class A shares (601857) fell 3.15% on Friday, ending the session at 9.83 yuan
- Oil closed up nearly 3% on Friday, driven by concerns over Iranian supply, following the closure of Chinese stock markets
- Traders are focused on Monday’s market reopen and China’s upcoming launch of yuan-denominated LNG futures
PetroChina Co Ltd’s Class A shares, traded in yuan on the Shanghai Exchange under code 601857, dropped 3.15% Friday, ending at 9.83 yuan. Mainland markets will remain closed over the weekend, leaving the next update until Monday as traders digest fresh oil and gas cues.
PetroChina ranks among China’s largest oil and gas firms, with operations covering upstream production, refining, and fuel marketing. This broad footprint leaves its shares vulnerable to fluctuations in crude and gas prices, as well as shifts in China’s risk appetite. The week kicks off with fresh developments in energy-market infrastructure making headlines.
China’s blue-chip CSI300 slipped 0.5% on Friday, while the Shanghai Composite ticked up 0.3%, Reuters reported, as regulators intensified measures against irregular trading. Morgan Stanley analysts noted that liquidity support for A-shares could last at least through Q1, buoyed by shifts away from bonds and term deposits.
PetroChina’s shares fluctuated between 9.81 and 10.25 yuan during the session, closing just shy of 10.15 yuan. According to Investing.com data, the stock remains within its 52-week range of 7.33 to 10.48 yuan. Trading volume hit roughly 268.4 million shares.
Oil prices closed at their highest level in over a week on Friday, with Brent rising 2.8% to $65.88 a barrel and U.S. WTI climbing 2.9% to $61.07, Reuters reported. Washington slapped new sanctions on vessels and companies involved in moving Iranian oil, fueling concerns about supply as Iran continues to be a key exporter to China.
China plans to launch yuan-denominated LNG futures on the Shanghai Futures Exchange as early as next month, sources told Reuters. These exchange-traded contracts will allow market participants to hedge and lock in prices. Analyst Ole Dramdal from Rystad Energy predicts China’s LNG imports will increase 12% this year, reaching 76.5 million metric tons.
A Reuters column on Friday highlighted a shift in China’s import patterns last year: LNG shipments dropped 15% in 2025 to 66.6 million metric tons, while crude oil imports edged up 1.1% to 3.75 billion barrels, according to Kpler data. The piece noted that much of the crude was likely added to stockpiles Beijing sees as a geopolitical risk buffer.
Oil continues to show volatility. A winter storm in the U.S. disrupted crude and gas production on Friday, potentially sidelining around 300,000 barrels a day, according to consultancy Energy Aspects. Veteran oil analyst Tom Kloza noted, “There is the potential for a surge in distillate demand,” pointing to diesel used for heating and power. Reuters
The outlook for China equities appears far tougher. Chinese stock funds recorded a $49.2 billion outflow in the week ending Wednesday — the largest ever, according to BofA Global Research’s weekly EPFR report. At the same time, regulators have been actively trying to rein in market rallies. If risk appetite remains muted, energy stocks like PetroChina may falter despite steady crude prices.
Monday’s reopening in Shanghai puts PetroChina investors on alert, gauging if Friday’s sell-off sparks more declines or a buying opportunity. Traders will also be tuning in for updates from the Shanghai Futures Exchange or the China Securities Regulatory Commission regarding LNG futures timing and contract specifics.
