品种晨会纪要：宝城期货原油早报-2025-12-22-20251222

Core Insights - The report indicates a strong short-term outlook for crude oil, driven by increased geopolitical risks, particularly in the Middle East, overshadowing the negative impact of supply surplus in the oil futures market [5]. Summary by Sections Short-term Outlook - The short-term outlook for crude oil is characterized as "震荡" (fluctuating) with a strong bias, suggesting a potential for price increases due to geopolitical tensions [5]. Medium-term Outlook - The medium-term perspective remains "震荡" (fluctuating), indicating that while there may be volatility, the overall trend is not expected to change significantly in the near future [5]. Daily Perspective - The daily viewpoint is described as "偏强" (slightly strong), reflecting a positive sentiment in the market for crude oil prices, which are expected to maintain a strong performance [5]. Key Drivers - The core logic driving the current market sentiment includes renewed geopolitical tensions, particularly Israel's concerns over Iran's military expansion, which has heightened risks in the region. This has led to a rebound in domestic crude oil futures prices, despite ongoing supply pressures and accumulating global oil inventories [5].