United Energy Group (00467) surged more than 12% in late trading. As of press time, the stock was up 12.66% at HK$0.445, with turnover of HK$77.4933 million.

On the news front, data from Kpler, a ship and global trade flow tracking company, shows that the volume of crude oil shipped through the Strait of Hormuz fluctuates significantly on a daily basis, at times reaching or even exceeding pre-war levels, while at other times remaining notably low. Kpler's data released on Monday indicated that for the week ending last Saturday, related crude oil shipments averaged approximately 10.3 million barrels per day, about 23% below the pre-war benchmark level of 13.5 million barrels per day.

It is worth noting that in early September, Fitch affirmed United Energy Group's "BB-" long-term issuer rating, with all ratings removed from Negative Rating Watch (RWN), reflecting that the risk of a prolonged full closure of the Strait of Hormuz and permanent operational disruption has decreased, and that the impact of the conflict on United Energy Group's credit profile will take longer to materialize. However, United Energy Group's assets in Iraq remain vulnerable to a closure of the Strait of Hormuz. The negative outlook reflects continued uncertainty over the sustainability of Iraq's export recovery.