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Hong Kong Stocks Open Lower as Oil Prices Jump

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Hong Kong stocks fell at the start of Tuesday's trading session, driven by higher crude oil prices as the ongoing Middle East conflict fueled doubts about a long-term peace solution between the U.S. and Iran.

The Hang Seng Index shed 0.6%, or 161 points, to 25,252.07. The Hang Seng China Enterprises Index fell 0.7%, or about 61 points, to 8,368.81.

Brent crude hit a six-week high after breaching the $97 threshold, while the U.S. WTI crude was at a three-month high, trading above $92.

Oil prices jumped after Iran said it was nearing a deal with Oman to manage ship traffic at the Strait of Hormuz, leaving Washington worried about its role in controlling the crucial trade route.

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