# oil price spike

China’s Big Three Oil Majors All Close at Limit‑Up as Oil Prices Spike on Mideast Escalation

China’s three state oil giants simultaneously closed at their daily trading limit for the first time as Brent crude spiked amid a US‑Israel strike on Iran that disrupted traffic through the Strait of Hormuz. The market reaction concentrated gains in commodity and defence sectors while broader indices showed limited breadth and elevated turnover.