E Fund Oil ETF (159181) received a net subscription of 7 million shares in the morning session.

As of the midday close, the Guozheng Oil & Gas Index (399439) fell 0.19%. Among its constituents, Zhongman Petroleum rose 5.9%, Lanyan Holdings rose 4.08%, and Jiufeng Energy rose 2.65%, while Heshun Petroleum fell 6.52%, Lanshi Heavy Equipment fell 5.68%, and Dweller fell 4.36%. As of March 20, the Guozheng Oil & Gas Index has risen 45.34% over the past year.

The E Fund Oil ETF (159181) defied the trend and closed up 0.3% at midday, receiving a net subscription of 7 million units during the morning session.

On the news front, Donald Trump gave Iran 48 hours to open the Strait of Hormuz, threatening to destroy its power plants. Iran responded that it might retaliate against all energy infrastructure, information technology systems, and desalination facilities. Following threats from the US and Iran to attack energy facilities, oil prices rose further on Monday, with Brent crude hovering around $108, having closed near a four-year high before the weekend.

Guosheng Securities analysis points out that against the backdrop of continued obstruction of passage through the Strait of Hormuz, if "current destocking + subsequent restocking" plays out as expected, VLCC shipping capacity will show significant volume and price elasticity. The freight rate for a 270,000-ton vessel from Ras Tanura in the Middle East Gulf to Ningbo (CT1) reached $346,998 per day on March 20, while the freight rate for a 260,000-ton vessel from Malongo/Jeune in West Africa to Ningbo (CT2) was $127,870 per day. Geopolitical risk premiums continue to strengthen the certainty of oil shipping profits.

The E Fund Oil ETF (159181) closely tracks the Guozheng Oil & Gas Index, focusing on the entire oil and natural gas industry chain in the Shanghai and Shenzhen markets. Relying on a structure of "three barrels of oil" + city gas + oil services/oil shipping, it combines high dividends, defensiveness, and certain cyclical elasticity. The industry concentration is high, with oil and petrochemicals accounting for about 58% (CITIC Primary), of which Oil Extraction III has a weight of about 33% (CITIC Tertiary), ranking first in total market capitalization.

Against the backdrop of ongoing Middle East conflicts and disruptions in the Strait of Hormuz, the oil and gas sector is facing a historic opportunity. The E Fund Oil ETF (159181) allows one-click allocation to core oil and gas assets, efficiently capturing the dividends of the oil price upcycle.