Core Viewpoint - The WTI crude oil price has surged to over $110 per barrel for the first time since July 2022, indicating significant market volatility and geopolitical tensions affecting oil prices [2][3]. Price Movement - WTI crude oil price increased by 22% from the previous weekend's price of $90.90, reaching a peak of $111.24 [2][3]. - Compared to the closing price of $67.02 on February 27, prior to military conflict concerns between the U.S. and Iran, the price has risen by 66% [3]. Geopolitical Context - The successor to the late Iranian Supreme Leader Khamenei is reported to be his son, Mojtaba Khamenei, known for his hardline anti-American stance [3]. - The conflict between the U.S., Israel, and Iran is escalating, with former U.S. President Trump stating that any agreement with Iran would amount to unconditional surrender, which has been rejected by Iranian President Pezeshkian [3].

Core Viewpoint - International crude oil prices continue to rise, with WTI crude increasing by 2.62%, surpassing $83 per barrel, reaching $83.102 per barrel, marking the highest level since July 2024 [1] - Brent crude rose by 1.2%, reaching $86.4 per barrel [1] Group 1 - WTI crude oil price has expanded its gains, indicating strong market demand and potential supply constraints [1] - The rise in Brent crude price reflects similar trends in the global oil market, suggesting a bullish outlook for oil prices [1]

1. Report Industry Investment Rating - The report suggests a bullish approach towards polyolefins [2] 2. Core View of the Report - The conflict between the US, Israel, and a Middle - Eastern country has disrupted energy transportation in the Middle East, causing Brent crude oil futures to reach their highest level since January 2025 and WTI crude oil futures to hit their highest settlement price since June last year. This has increased the upward pressure on the price of chemicals. Polyolefins closed at the daily limit and continued to rise overnight. For linear LL, some prices of Sinopec and PetroChina were raised, and for拉丝PP, prices of both Sinopec and PetroChina were increased. In the future, attention should be paid to the terminal procurement rhythm after the resumption of work. Overall, a bullish view is taken [2] 3. Summary by Related Catalogs Futures Market - **Price and Change**: For LL, the previous day's closing prices for January, May, and September contracts were 7175, 7200, and 7183 respectively, with price increases of 94, 209, and 112 and percentage increases of 1.33%, 2.99%, and 1.58% respectively. For PP, the previous day's closing prices for January, May, and September contracts were 7070, 7223, and 7169 respectively, with price increases of 122, 225, and 149 and percentage increases of 1.76%, 3.22%, and 2.12% respectively [2] - **Trading Volume and Open Interest**: The trading volumes of LL for January, May, and September contracts were 1745, 1035216, and 185624 respectively, and the open interests were 2208, 436928, and 102815 respectively. For PP, the trading volumes for January, May, and September contracts were 2167, 1031797, and 229863 respectively, and the open interests were 4260, 502966, and 134631 respectively. The changes in open interest for LL were 250, - 68551, and 12703 respectively, and for PP were 318, 4353, and 683 respectively [2] - **Spread**: For LL, the current spreads of January - May, May - September, and September - January were - 25, 17, and 8 respectively, compared with previous values of 90, - 80, and - 10. For PP, the current spreads of January - May, May - September, and September - January were - 153, 54, and 99 respectively, compared with previous values of - 50, - 22, and 72 [2] Spot Market - **Raw Materials and Semi - finished Products**: The current prices of methanol futures, Shandong propylene, South China propane, PP recycled materials, North China powder, and mulch film were 2560 yuan/ton, 6640 yuan/ton, 750 dollars/ton, 5600 yuan/ton, 7220 yuan/ton, and 8100 yuan/ton respectively. The previous prices were 2369 yuan/ton, 6620 yuan/ton, 740 dollars/ton, 5600 yuan/ton, 6680 yuan/ton, and 8100 yuan/ton respectively [2] - **Mid - stream**: For LL, the current price ranges in the East China, North China, and South China markets were 7050 - 7450 yuan/ton, 6900 - 7550 yuan/ton, and 7400 - 7700 yuan/ton respectively, compared with previous ranges of 6650 - 6750 yuan/ton, 8100 - 8250 yuan/ton, and 6700 - 7100 yuan/ton. For PP, the current price ranges in the East China, North China, and South China markets were 7050 - 7200 yuan/ton, 7050 - 7150 yuan/ton, and 7100 - 7350 yuan/ton respectively, compared with previous ranges of 6600 - 7050 yuan/ton, 7000 - 7250 yuan/ton, and 6650 - 6750 yuan/ton [2] News - The conflict between the US, Israel, and a Middle - Eastern country has disrupted energy transportation in the Middle East. On March 3, 2026, the settlement price of WTI crude oil futures for April 2026 on the New York Mercantile Exchange was $74.56 per barrel, up $3.33 or 4.67% from the previous trading day, with a trading range of $70.41 - $77.98. The settlement price of Brent crude oil futures for May 2026 on the London Intercontinental Exchange was $81.40 per barrel, up $3.66 or 4.71% from the previous trading day, reaching the highest settlement price since January 2025, with a trading range of $78.38 - $85.12 [2]

Core Viewpoint - WTI crude oil increased by 3.05% to $67.200 per barrel, while Brent crude oil rose by 2.94% to $72.920 per barrel [1] Price Movements - WTI crude oil price reached $67.200 per barrel after a 3.05% increase [1] - Brent crude oil price climbed to $72.920 per barrel with a 2.94% rise [1]

Core Viewpoint - International crude oil prices continue to rise, with WTI crude increasing by 3.05% to $67.200 per barrel and Brent crude rising by 2.94% to $72.920 per barrel [1][1]. Group 1 - WTI crude oil price reached $67.200 per barrel after a 3.05% increase [1]. - Brent crude oil price reached $72.920 per barrel after a 2.94% increase [1].

Core Insights - The article highlights a resurgence in oil prices due to changing international dynamics, with Brent crude at $61 per barrel and West Texas Intermediate at $57 per barrel [1] Group 1: Factors Influencing Oil Prices - The ongoing Ukraine crisis is a significant factor, as attempts by Trump to negotiate peace have not resolved the underlying conflicts between Russia and Ukraine [1] - Geopolitical crises in Venezuela and Nigeria have contributed to the end of a nearly five-month decline in international oil prices [1]

Core Insights - International crude oil prices continue to rise, with WTI crude futures increasing by 3.45% to $62.9 per barrel and Brent crude futures rising by 3% to $64.7 per barrel [1] Price Movement - WTI crude futures rose by 3.45% [1] - Brent crude futures increased by 3% [1]