1. Report Industry Investment Rating - Not provided in the given content 2. Report's Core View - This week, oil prices rose significantly due to geopolitical tensions. After the US announced a successful air - strike on three Iranian nuclear facilities on Sunday, Iran declared retaliation and the Iranian parliament approved the closure of the Strait of Hormuz. The uncertainty of Iran's retaliatory actions, scale, and whether the US will deploy ground troops to destroy nuclear projects has increased geopolitical risks. Crude oil may face a sharp increase on Monday. Fundamentally, US commercial inventories decreased by over 10 million barrels, global oil inventories were basically flat, and diesel strengthened significantly due to supply disruptions. The oil futures spread continued to strengthen, approaching the 2022 level. If the Strait of Hormuz is closed, the absolute price of crude oil may soar to three - digit levels [5]. 3. Summary by Relevant Catalogs a. Price Data - From June 16 - 20, 2025, WTI prices fluctuated, with a value of 71.77 on June 16 and 73.84 on June 20; BRENT prices also fluctuated, from 73.23 on June 16 to 77.01 on June 20, with a change of - 1.84; DUBAI prices were around 70 - 71 dollars per barrel [3]. - SC prices had a change of - 4.30 from June 16 - 20, 2025; OMAN prices increased by 0.68 during the same period [3]. - Domestic gasoline prices increased by 30 to 8060, and the domestic gasoline - BRT spread increased by 142 to 3461 [3]. b. Daily News - An Iranian parliamentary committee member said the Iranian parliament concluded that the Strait of Hormuz should be closed, but the final decision lies with the Supreme National Security Council [3]. - Russian President Putin agreed with OPEC's view that oil demand will remain high, and Rosneft's head said OPEC + may advance its original production - increase plan by about a year [4]. - Multiple sources said only the ground part of Iran's Isfahan nuclear facility was damaged in the US military operation [4]. - Israeli Prime Minister Netanyahu "appreciated" the US air - strike on Iranian nuclear facilities, stating Israel won't be involved in a war of attrition and will neither take unnecessary actions nor stop prematurely [4]. c. Regional Fundamentals - In the week of June 13, US crude exports increased by 107.5 barrels per day to 436.1 barrels per day, and domestic production increased by 0.3 barrels to 1343.1 barrels per day [4]. - US commercial crude inventories (excluding strategic reserves) decreased by 11.473 million barrels to 421 million barrels, a 2.65% decline; strategic oil reserve (SPR) inventories increased by 230,000 barrels to 402.3 million barrels, a 0.06% increase [4][5]. - US crude imports (excluding strategic reserves) decreased by 67.2 barrels per day to 550.4 barrels per day in the week of June 13 [5]. - In China, the main refinery operating rate rose, while the Shandong local refinery operating rate declined. Both gasoline and diesel production increased, with inventories piling up. Main refinery comprehensive profits rebounded, and local refinery comprehensive profits improved [5]. d. Weekly View - Geopolitical tensions caused a sharp rise in oil prices this week. With the uncertainty of Iran's retaliation and US actions, geopolitical risks soared. Crude oil may face a sharp increase on Monday. Fundamentally, US commercial inventories decreased by over 10 million barrels, and global oil inventories were basically flat. Diesel strengthened due to supply disruptions, and the oil futures spread continued to strengthen. If the Strait of Hormuz is closed, crude oil prices may soar to three - digit levels [5].