API原油库存大幅降库千万桶，地缘因素回摆油价迅速反弹收复失地

Core Viewpoint - Oil prices have shown volatility due to geopolitical tensions and trade agreements, particularly between the US and India, which may impact the global oil supply and demand dynamics [4][5][8]. Market Dynamics - Recent oil price movements include WTI crude oil futures rising by $1.07 (1.72%) to $63.21 per barrel, and Brent crude oil futures increasing by $1.03 (1.55%) to $67.33 per barrel [6][19]. - The American Petroleum Institute (API) reported a significant drop in US crude oil inventories, exceeding 10 million barrels, which is a bullish signal for oil prices [4][5]. Trade Agreements - The US and India have reached a trade agreement where the US will reduce tariffs on Indian goods from 50% to 18%, in exchange for India agreeing to stop purchasing Russian oil and instead buy from the US and potentially Venezuela [8][21]. - This agreement is expected to pressure Russian oil sales and boost demand for Middle Eastern oil, with India being a major oil importer [8][21]. Geopolitical Factors - The ongoing negotiations between the US and Iran regarding nuclear issues are influencing oil market sentiments, with potential impacts on oil supply if tensions escalate or if negotiations succeed [10][23]. - The market is closely monitoring the outcomes of these negotiations, as any breakdown could lead to renewed geopolitical risks and volatility in oil prices [10][23]. Indian Refinery Adjustments - Indian refiners are in a transitional phase regarding Russian oil imports, with some already halting new orders while awaiting government directives [9][22]. - The expected reduction in Russian oil imports is anticipated to be gradual, allowing refiners to adjust their supply sources without sudden disruptions [9][22].