品种晨会纪要：宝城期货原油早报-2026-01-26-20260126

Report Summary Investment Rating - No investment rating provided in the report Core View - The crude oil market is expected to operate in a moderately strong manner. In the short - term (within a week), it will be volatile; in the medium - term (two weeks to a month), it will also show a volatile trend, and it will be moderately strong on the day [1][5] Summary of Related Content - Price Movement and Judgment Criteria - For varieties with night trading, the starting price is the night trading closing price; for those without night trading, it's yesterday's closing price, and the end price is the day - trading closing price to calculate the price change [2] - A decline greater than 1% is considered weak, a decline of 0 - 1% is moderately weak, a rise of 0 - 1% is moderately strong, and a rise greater than 1% is strong [3] - The moderately strong/moderately weak judgment only applies to the intraday view, not to short - term and medium - term views [4] - Driving Logic of Crude Oil Price - Recently, US President Trump has frequently sent out geopolitical risk signals, with Greenland and Canada potentially being the next targets for the US to seize and attack. The arrival of a US aircraft carrier in the Middle East and Iran's strong statements may lead to a new round of military conflicts between the US and Iran, threatening Middle East crude oil exports. Geopolitical risks have overshadowed the weak supply - demand fundamentals of the oil market, boosting the sharp rise of domestic and foreign crude oil futures prices on the night of last Friday. It is expected that domestic crude oil futures will maintain a moderately strong and volatile trend on Monday [5]