建信期货原油日报-20260331

Report Information - Report Title: Crude Oil Daily Report [1] - Date: March 31, 2026 [2] Investment Rating - Not provided in the report Core Viewpoints - The situation in the Middle East may further escalate, with the supply side remaining tight due to production cuts in Middle - Eastern oil - producing countries. Oil prices are highly volatile driven by news, and bullish call spreads are recommended [6] Section Summaries 1. Market Review and Operation Suggestions - Market Review: WTI's opening price was $93.31, closing at $101.18, with a 7.09% increase and a trading volume of 34.06 million lots. Brent's opening was $100.64, closing at $106.29, up 4.32% with 42.95 million lots traded. SC's opening was 756 yuan/barrel, closing at 763.5 yuan/barrel, up 3.11% with 10.26 million lots traded [5] - News: Iran is considering a management model for the Strait of Hormuz similar to the Suez Canal and charging tolls. The US will suspend attacks on Iran's energy infrastructure until April 6 but continues to strengthen military deployment in the Middle East. The Strait of Hormuz transport is interrupted, and cumulative production cuts may reach 8 million barrels per day [5][6] - Suggestion: Consider bullish call spreads due to high price volatility [6] 2. Industry News - Ukraine may slow down attacks on the Russian oil industry if Russia stops attacking its energy facilities [7] - Iran has no direct dialogue with the US, only communicating through intermediaries [7] - The Mandeb Strait has become an important channel for Middle - Eastern crude oil transportation, with 4.14 million barrels per day passing through in March, up from 2.95 million barrels per day in February [7] - Asian buyers are seeking alternative pricing mechanisms for Saudi oil. The premium of Saudi's flagship Arab Light crude oil is expected to soar to about $40 per barrel in May, compared to $2.50 in April [7][8] 3. Data Overview - The report presents multiple data charts, including global high - frequency crude oil inventory, EIA crude oil inventory, US crude oil production growth rate, and various oil price and consumption data, but specific data values are not described in detail [10][15][19]