Report Industry Investment Rating - Not provided in the documents Core Viewpoints - The measures taken by the US government to ease oil prices are ineffective in offsetting the large volume of oil and gas exports from the Strait of Hormuz. Only the full resumption of navigation in the Strait can completely alleviate the current supply shortage [2] - Oil prices are at high risk of rising in the short - term due to the Strait's disruption, and also face significant downward risk if the Strait resumes navigation. The market is volatile, and it is recommended to wait and see [4] Summary by Relevant Catalogs Market News and Important Data - On March 5th, international oil prices rose significantly. The April - delivery light crude oil futures price on the New York Mercantile Exchange rose $6.35 to $81.01 per barrel, a gain of 8.51%. The May - delivery Brent crude oil futures price rose $4.01 to $85.41 per barrel, a gain of 4.93%. The SC crude oil main contract rose 1.25% to 674 yuan per barrel [1] - US President Trump said he would take further measures to ease pressure on the oil market. He also called on Iranian diplomats around the world to seek asylum [1] - US Interior Secretary Bergum said the Trump administration was considering a series of measures to deal with rising oil and gasoline prices caused by the Iran war, including releasing the US emergency oil reserve, but no action has been taken so far [1] - The CEO of Colombia's state - owned oil company Ecopetrol said there were multiple energy trading cooperation opportunities with Venezuela and requested the US Office of Foreign Assets Control to lift restrictions on negotiations with Venezuela [1] - The US Treasury has issued a license for the transactions of the German branch of Rosneft, effective today [1] - Hungarian Prime Minister Orban said Hungary would not compromise with Ukraine and would force Ukraine to resume oil transportation from Russia through the "Friendship" pipeline [1] - Due to the Middle East conflict, Kuwait's Mina Abdullah refinery with a daily processing capacity of 454,000 barrels was shut down on March 3rd and is expected to resume operation by March 15th. Kuwait's Zour refinery with a daily refining capacity of 615,000 barrels has reduced its operating load by about 25%. Bahrain's Sitra refinery with a daily processing capacity of 448,000 barrels has shut down two crude oil units [1] Investment Logic - The current throughput of tankers in the Strait is still low. US government measures such as providing insurance and naval escort, releasing strategic reserves, and relaxing sanctions on Russia cannot offset the large volume of oil and gas exports from the Strait, especially for refined oil and natural gas. The shortage in the natural gas and refined oil markets cannot be solved [2] Strategy - It is recommended to wait and see as the oil price is volatile, with high upward risk in the short - term due to the Strait's disruption and high downward risk if the Strait resumes navigation [4]

新华社北京10月24日电 在美国22日宣布对俄罗斯新一轮制裁以及欧盟成员国就第19轮对俄制裁措施达 成一致后，国际油价23日上涨超5%，创两周以来新高。 截至23日收盘，纽约商品交易所12月交货的轻质原油期货价格上涨3.29美元，收于每桶61.79美元，涨幅 为5.62%；12月交货的伦敦布伦特原油期货价格上涨3.40美元，收于每桶65.99美元，涨幅为5.43%。 美国财政部长贝森特22日宣布美国制裁俄罗斯最大的两家石油企业——国有企业俄罗斯石油公司和私有 企业卢克石油公司。据彭博社估算，这两家企业的原油出口量共占俄罗斯原油出口总量近50%。 22日早些时候，欧盟成员国就第19轮对俄制裁措施达成一致。欧盟委员会主席冯德莱恩19日发表声明， 宣布向成员国提交第19轮对俄罗斯制裁措施。根据声明，欧盟将禁止俄罗斯液化天然气进入欧洲市场， 并将俄罗斯原油价格上限下调至每桶47.6美元；俄罗斯石油贸易公司和俄气石油公司将面临全面交易禁 令。根据欧盟相关程序，新一轮制裁措施须经27个成员国一致同意后方可生效。 凯投国际宏观经济咨询公司分析师认为，对俄制裁恐将严重冲击全球石油市场，使全球石油供应明年出 现短缺。（完） ...