Core Points - The meeting between Ukrainian President Zelensky and US President Trump took place on October 17, with a tense and candid atmosphere reported during their discussions [1] - Trump explicitly stated that Ukraine would not receive long-range missiles capable of striking deep into Russian territory [1] - Trump suggested that Russia and Ukraine should reach an agreement and immediately cease hostilities, declaring victory on both sides [1] - Zelensky expressed a realistic outlook regarding the acquisition of "Tomahawk" missiles and acknowledged the need for Ukraine to make more efforts to secure US long-range weaponry [1] Summary by Sections - **Meeting Dynamics** - The meeting lasted several hours and included senior aides from both sides, characterized by a tense and sometimes awkward atmosphere [1] - **Military Support** - Trump made it clear that Ukraine would not receive long-range missiles for deep strikes into Russia [1] - Zelensky discussed the need for Ukraine to exert more effort in securing long-range weapons from the US [1] - **Ceasefire Proposal** - Trump strongly recommended that Russia and Ukraine should reach a ceasefire agreement and stop fighting immediately, suggesting both sides declare victory [1]

Report Summary 1) Report Industry Investment Rating - No specific industry investment rating is provided in the report. 2) Core View of the Report - The report believes that the crude oil 2507 contract will run weakly, with short - term, medium - term being in a state of shock, and intraday being shock - weak [1][5]. 3) Summary by Relevant Directory Time - cycle Viewpoints - Short - term (within a week): The crude oil 2507 contract is expected to be in a state of shock [1]. - Medium - term (two weeks to a month): The crude oil 2507 contract is expected to be in a state of shock [1]. - Intraday: The crude oil 2507 contract is expected to be shock - weak and run weakly [1][5]. Core Logic - Although Sino - US economic and trade relations have made substantial progress and macro factors have turned optimistic, the US debt crisis in June is approaching, which may trigger a new round of negative macro - impacts. OPEC+ oil - producing countries are accelerating the pace of production increase, and the crude oil demand forecast is weak. With the expectation of a soon - to - be - reached Iran - US nuclear negotiation and the increasing expectation of a cease - fire between Russia and Ukraine, as well as the cease - fire between the Yemeni Houthi and the US, the geopolitical risks in the Middle East have weakened, and the crude oil premium has declined. With the dominance of bearish factors, the domestic crude oil futures 2507 contract is expected to maintain a shock - weak trend on Monday [5]. Price Performance - Last Friday night, the domestic crude oil futures prices showed a shock - consolidation trend, with the futures price slightly rising 0.30% to 462.5 yuan per barrel [5].