Funds Buy Oil Sector Dip as Penghua Oil ETF Sees 61 Million Share Inflow

Penghua Oil ETF (159697) saw a net intraday subscription of 61 million shares as investors bought the oil sector on the dip, while the fund last traded at 1.27 yuan at 2:00 p.m. on July 24, 2026. Jiemian News reported that since July 12, average daily traffic through the Strait has fallen to fewer than 10 tankers, delaying expectations for Middle East crude supply recovery and supporting oil prices in the short term. BOSC Securities said short-term oil prices will remain driven by geopolitical risk, while in the medium to long term, easing conflict could leave global crude benchmarks under pressure from supply glut. It also said geopolitical shocks could still hit oil prices unexpectedly and increase volatility. The Penghua fund tracks the CSI Guosen Oil and Gas Index (399439), whose top 10 constituents as of June 30, 2026 were Jerry's Shares, PetroChina, CNOOC, Sinopec, China Merchants Shipping, Guanghui Energy, COSCO Shipping Energy Transportation, Jovo Energy, Xinao Shares and China Merchants Energy Shipping; the top 10 holdings accounted for 71%.