建信期货原油日报-20260326

1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - Trump is prepared for both negotiation and conflict. Before the risk in the Strait of Hormuz is eliminated, oil prices will continue to rise. Measures such as joint reserve releases and sanctions relief cannot offset the daily supply loss of 15 million barrels and do not address the root cause. As supply shortages persist, the oil price center will rise again. SC will be significantly stronger than foreign markets due to the sharp increase in Middle East tanker freight rates. Given the high risks in the oil market driven by geopolitical factors, it is recommended to consider call spread options [6] 3. Summary by Relevant Catalogs 3.1 Market Review and Operational Suggestions - Market Review: WTI's opening price was $88.78, closing at $88.39, with a high of $93.36, a low of $86.34, a daily increase of 0.3%, and a trading volume of 40.19 million lots. Brent's opening price was $97.12, closing at $95.96, with a high of $100.77, a low of $94.15, a daily increase of 0.04%, and a trading volume of 56.54 million lots. SC's opening price was 752 yuan/barrel, closing at 723.9 yuan/barrel, with a high of 757.8 yuan/barrel, a low of 686.0 yuan/barrel, a daily decrease of 3.72%, and a trading volume of 1.44 million lots. Market rumors suggest that the US may further ease military attacks on Iran and start negotiations soon, leading to a continued cooling of geopolitical tensions. Overnight, Brent's main contract briefly fell below $95 [5] - Operational Suggestions: Given the high risks in the oil market driven by geopolitical factors, it is recommended to consider call spread options [6] 3.2 Industry News - COSCO Shipping Lines resumed new booking services (general containers) from the Far East to the UAE, Saudi Arabia, Bahrain, Qatar, Kuwait, and Iraq as of March 25 [7] - After the US granted sanctions exemptions, India's Reliance Industries purchased 5 million barrels of Iranian crude oil [7] - Shipping data shows that crude oil exports from Saudi Arabia's Yanbu Port rose to nearly 4 million barrels per day in the latest week, compared to about 1 million barrels per day before the Iran war [7] - According to Israel's Channel 12, the US may soon announce a one - month ceasefire in the Iran war, a mechanism promoted by US Middle East Envoys Witkoff and Kushner. As of press time, no other authoritative media has reported on this [7] 3.3 Data Overview - The report presents various data charts, including global high - frequency crude oil inventory, EIA crude oil inventory, US crude oil production growth rate, Dtd Brent price, WTI spot price, Oman spot price, US gasoline consumption, and US diesel consumption, with data sources from Bloomberg, EIA, and Wind [9][14][19][23]