Group 1 - WTI crude oil futures have increased by over 8%, currently priced at $94.72 per barrel [1] - Multiple drones attacked the Salalah port in southern Oman on March 11, with some drones hitting fuel storage tanks despite some being intercepted [2]

1. Report Industry Investment Rating No information provided. 2. Core Viewpoints of the Report The report presents the overnight performance of the night - market, important news, and the situation of the financial market, all affected by factors such as the Middle - East geopolitical conflict, supply and demand changes, and policy adjustments [5][9][33]. 3. Summary by Relevant Catalogs Overnight Night - Market Market Trends - International precious metal futures generally closed down, with COMEX gold futures down 1.11% at $5183.90 per ounce and COMEX silver futures down 4.11% at $85.91 per ounce. Multiple factors including Fed rate - cut expectation cooling, inflation logic change, short - term profit - taking, and dollar strengthening pressured the precious metal trend [5]. - US oil and Brent oil futures rose, with US oil up 5.94% at $88.41 per barrel and Brent oil up 6.64% at $93.63 per barrel. The Middle - East geopolitical conflict disrupted oil tanker transportation, and the pre - digested IEA strategic oil reserve release had limited impact on suppressing oil prices [5]. - Most London base metals fell, with LME aluminum and nickel rising, and lead, copper, zinc, and tin falling [5]. - As of 23:00, most domestic futures contracts rose, with PX up over 13%, PTA up over 11%, and many other products showing significant increases [7]. Important News Macroeconomic News - Maersk has 10 ships trapped in the Persian Gulf, and over 100 container ships are trapped in the Gulf area. It will take at least one to ten days to resume normal operations if a cease - fire is achieved [9]. - In February, China's auto production and sales decreased both month - on - month and year - on - year. From January to February, the decline was also significant [9]. - Three ships were attacked in the Strait of Hormuz [10]. - Trump said the war with Iran would "soon" end [11]. - The US February unadjusted CPI and core CPI annual rates met market expectations and were flat compared to the previous month [12]. Energy and Chemical Futures - The IEA will provide 4 billion barrels of oil from emergency reserves. Japan and Germany will release their strategic oil reserves [15]. - China's methanol port inventory decreased. The total inventory was 131.28 million tons as of March 11, 2026, a decrease of 13.07 million tons from the previous period [15]. - UAE's Fujairah port's refined oil inventory decreased by 21.5% week - on - week [15]. - Saudi Aramco asked Asian buyers for two sets of loading plans for April. The loading volume at Yanbu increased in March [16]. - OPEC maintained its global supply, demand, and economic forecasts [16]. - The EIA report showed that the commercial crude oil inventory (excluding strategic reserves) increased by 382.4 million barrels to 443 million barrels in the week of March 6, a 0.87% increase [17]. - The US will release 1.72 billion barrels of strategic oil reserves starting next week [19]. Metal Futures - Workers at Glencore's Australian copper smelter threatened to strike due to a salary negotiation breakdown [21]. - The aluminum premium for Japanese buyers reached an 11 - year high due to supply tightening in the Middle - East [21]. - The average price of polysilicon decreased, and the industry's average operating rate dropped to 35.5% [21]. - China's refined nickel production in February decreased month - on - month but increased year - on - year [21]. - The cumulative production of cathode copper by 23 sample enterprises from January to February increased year - on - year [22]. Black - Series Futures - HeSteel's 75B ferrosilicon tender quantity decreased in March [25]. - A coal mine in Henan was ordered to suspend production for rectification [25]. - Some iron ore cargo ships changed their routes to China due to the Strait of Hormuz situation [25]. Agricultural Product Futures - Malaysia's palm oil inventory in March may decrease by 8% month - on - month, and prices may rise if the Middle - East conflict continues [27]. - Brazil's soybean exports in March are expected to reach 1647 million tons, possibly exceeding last year's record [27]. - The trading margin and daily limit of apple futures contracts 2604 and 2605 will be adjusted from March 16 [28]. - Malaysia's palm oil production from March 1 - 10 increased month - on - month [30]. - Argentine farmers sold 59.48 million tons of soybeans in the week of March 4 [31]. - Soybean harvesting in Brazil's Parana state is in full swing [31]. Financial Market Finance - The Shanghai Composite Index rose 0.25%, the Shenzhen Component Index rose 0.78%, and the ChiNext Index rose 1.31%. The market turnover was 2.53 trillion yuan. New energy and chemical stocks performed well, while military and rare metal stocks declined [33]. - Hong Kong stocks opened higher and closed lower. Southbound funds had a net purchase of over HK$3.4 billion, but Tencent was net sold over HK$2.4 billion [33]. - Many Chinese investment banks withdrew from the role of overall coordinators for listed companies in the Hong Kong IPO market [33]. - The popularity of "Electronic Lobster" OpenClaw has shifted the focus of the AI industry chain, bringing new investment opportunities [34]. Industry - The National Supercomputing Internet will provide free Tokens to OpenClaw users and announced a discounted Token purchase price [35]. - The semiconductor market is expected to reach a scale of one trillion US dollars in 2026, and China's share in mainstream semiconductor manufacturing capacity will reach 42% by 2028 [35]. - China's auto sales in February decreased year - on - year, but new energy vehicle exports increased [35]. - The Middle - East war led to an oil price surge, and Asian airlines raised ticket prices [35]. Overseas - G7 leaders discussed the Middle - East situation and economic impact. They welcomed the IEA's decision to release strategic oil reserves and emphasized the importance of freedom of navigation in the Strait of Hormuz [36]. - Iran's President reiterated the commitment to regional peace and proposed conditions for ending the war [38]. - Iran's new supreme leader was reported to be injured [38]. - The Trump administration plans to conduct trade investigations to impose new tariffs [38]. - The US government budget deficit in February was $308 billion, and the deficit from the beginning of the fiscal year to February was $1.004 trillion, a 12% decrease from the same period last year [39]. - The US February inflation data met expectations, but the impact of the Iran situation on oil prices was not reflected [39]. - The average US gasoline price reached a 21 - month high [39]. - The energy price surge due to the Iran war has reshaped the European Central Bank's policy expectations [40]. International Stock Markets - US stocks closed mixed. The Dow fell 0.61%, the S&P 500 fell 0.08%, and the Nasdaq rose 0.08%. The market was concerned about the Middle - East war and oil prices [41]. - European stocks closed down due to inflation concerns and hawkish remarks from the European Central Bank [41]. - Most Asia - Pacific stocks rose, with the exception of the Indian SENSEX30 index [42]. Commodities - International precious metal futures generally closed down, with gold and silver futures falling [43]. - US and Brent oil futures rose due to the Middle - East conflict [45]. - Most London base metals fell, with aluminum and nickel rising [45]. - OPEC maintained its global oil demand growth rate forecasts [45]. - Fitch raised its short - term oil price expectations [46]. - An Iranian military spokesman warned of $200 - per - barrel oil prices [46]. - Global physical gold ETFs had an inflow of about $5.3 billion in February, and the total position reached a record high [46]. - Qatar's largest LNG export factory has been shut down for five days [46]. Bonds - The domestic bond market was weak, with most major interest - rate bond yields rising slightly. The Hong Kong government plans to increase the borrowing limit for infrastructure bonds [48][49]. - US bond yields rose across the board [49]. Foreign Exchange - The on - shore RMB against the US dollar rose, and the RMB central parity rate against the US dollar reached a new high since April 25, 2023. The US dollar index rose, and non - US currencies showed different trends [50]. Scheduled Events - There are various events scheduled for March 12, including central bank operations, meetings, and conferences, as well as corporate earnings reports [53].

Core Viewpoint - The situation in the Strait of Hormuz is escalating, with Iran's military actions potentially leading to a long-term blockade of oil exports, which could significantly impact global oil prices and the economy [2][6][8]. Group 1: Military Actions and Tensions - Iran is believed to possess between 2,000 to 6,000 naval mines, with recent reports indicating that they have begun laying mines in the Strait of Hormuz [4][6]. - The U.S. military has reportedly cleared multiple Iranian naval vessels, including 16 mine-laying ships, in the region [5]. - The Iranian Revolutionary Guard has maintained a strong stance against the U.S., warning that no oil exports are currently permitted from the region [6]. Group 2: Impact on Shipping and Oil Markets - The Strait of Hormuz is a critical chokepoint for global oil, with approximately 20% of the world's oil passing through it [6]. - Recent attacks on vessels in the Persian Gulf, including a Thai cargo ship and a large container ship operated by Ocean Network Express, have raised concerns about shipping safety [6][7]. - Over 600 vessels from around the world are currently stranded in the Persian Gulf, and if the Strait remains blocked, shipping routes may need to be adjusted [7]. Group 3: Economic Implications - Prolonged military actions and ongoing threats to shipping safety could lead to increased oil prices due to supply concerns, potentially exacerbating inflation and negatively impacting the global economy [8].

Core Viewpoint - The International Energy Agency (IEA) has announced a historic joint release of 400 million barrels of oil reserves to mitigate the impact of Iran's blockade of the Strait of Hormuz and stabilize energy prices, marking the largest coordinated release since the onset of the Russia-Ukraine conflict in 2022 [2][4]. Group 1: Joint Release Announcement - The IEA's decision to release 400 million barrels significantly exceeds the previous record release of 180 million barrels in 2022 [4]. - The release aims to increase supply and lower energy prices, with the West Texas Intermediate (WTI) crude oil price hovering around $85 per barrel following the announcement, indicating a limited market reaction [4]. Group 2: Member Countries' Coordination - An emergency meeting was held on March 10, where IEA member countries coordinated the details of the oil reserve release, with a total emergency reserve exceeding 1.2 billion barrels among 32 member countries [5]. - IEA Director Fatih Birol welcomed the unanimous agreement among member countries, emphasizing the solidarity displayed in this action [5]. Group 3: Japan's Involvement - Japan plans to release approximately 8 million barrels, which is about 20% of its oil reserves, starting on March 16, in response to the supply concerns due to the blockade [6][9]. - The Japanese government aims to alleviate supply tension and curb rising fuel prices, with a total national oil reserve sufficient for 146 days and a private reserve for 101 days [9]. Group 4: Global Market Impact - The joint release is expected to have a short-term effect on stabilizing oil prices, with IEA indicating that the most critical factor for market stability is the restoration of navigation through the Strait of Hormuz [8]. - The IEA has previously coordinated similar releases during significant global events, highlighting the importance of collective action in times of crisis [8].

Report Industry Investment Rating No relevant content provided. Core Views of the Report - The international oil price briefly declined and then rebounded rapidly after the IEA member countries decided to release 400 million barrels of strategic oil reserves. The supply risk and strong demand support the oil price to remain high before the key straits resume safe passage [1]. - Precious metals are in a historical high - level shock pattern, and attention should be paid to the war trend and energy price changes [2]. - The copper price trading rhythm is supported by spot buying interest, but the war situation and high visible inventory may still lead to copper price fluctuations [3]. - The aluminum price fluctuates strongly at a high level, and the previous high position has resistance. Attention should be paid to the geopolitical guidance [4]. - The prices of most commodities are affected by the geopolitical situation, and the market is in a state of shock, with different trends for different varieties. Summary by Related Catalogs Energy - **Crude Oil**: The IEA member countries released 400 million barrels of strategic oil reserves, the largest in history. The strategic reserves need to be replenished in the future. The situation in the Strait controlled by Iran is tense, and the supply risk and strong demand support the oil price to remain high [1]. - **Fuel Oil & Low - Sulfur Fuel Oil**: G7 announced joint oil release, but the passage prospects of the Strait of Hormuz are still uncertain. High - sulfur fuel oil faces supply loss pressure, and low - sulfur fuel oil is expected to be weaker [21]. - **Natural Gas**: No relevant content provided. - **Coal**: - **Coke**: The spot price is rising, the coking profit is average, and the inventory is slightly rising. The coke price is likely to rise due to energy concerns caused by geopolitical conflicts [16]. - **Coking Coal**: The spot price is rising, the supply is abundant, and the terminal inventory is declining. The coal price is likely to rise due to energy concerns, but the high - level Mongolian coal customs clearance data suppresses the price [17]. Metals - **Precious Metals**: Precious metals are in a historical high - level shock pattern. The US 2 - month unadjusted core CPI annual rate is 2.5%, in line with market expectations. The war situation and energy price changes need to be concerned [2]. - **Base Metals**: - **Copper**: The copper price fluctuates, and the spot premium expands. The market is concerned about the uncertainty of the Middle East war situation. The copper price is supported by spot buying interest but may be affected by the war and high inventory [3]. - **Aluminum**: The Shanghai aluminum fluctuates strongly. The domestic social inventory is at a high level, but the overseas low - inventory situation and the Middle East situation intensify the shortage concern. The aluminum price fluctuates strongly at a high level [4]. - **Zinc**: The macro - liquidity is tightening, the LME zinc rebound momentum is insufficient, and the domestic zinc surplus pressure still exists. The zinc price is expected to maintain a high - level shock [7]. - **Lead**: The lead price is in a low - level shock. The inventory is under pressure, the cost support for the futures is insufficient, and the price is in the range of 16,500 - 17,300 yuan/ton [8]. - **Nickel and Stainless Steel**: The nickel price fluctuates narrowly, and the upstream price rebound supports the middle - stream price. The nickel market lacks an independent driver and follows the external sentiment to rebound [9]. - **Tin**: The tin price fluctuates, and the market supply and demand news is flat. The tin price is in a relatively high - price area, and the resistance level of 400,000 - 405,000 yuan is effective [10]. - **Ferroalloys**: - **Manganese Silicon**: The international conflict has a positive impact on the manganese ore freight, and the cost is relatively favorable. The demand for iron water decreases, and the price is likely to fluctuate [18]. - **Silicon Iron**: The electricity price in Inner Mongolia increases, and the demand for iron water is at a low level. The export demand is stable, and the price is likely to fluctuate [19]. Chemicals - **Polyolefins**: - **Polypropylene, Plastic, and Propylene**: The cost support weakens, the demand for propylene decreases, and the market trading is weak [27]. - **PVC and Caustic Soda**: The PVC price rises, the supply decreases, and the inventory pressure still exists. The caustic soda price is strong, and the industry profit is repaired [28]. - **Aromatics**: - **Pure Benzene**: The shipping risk in the Strait of Hormuz increases, and the pure benzene price rises. The domestic production decreases, and the inventory decreases slightly [25]. - **Styrene**: The cost is under pressure due to the oil price decline, and the domestic supply is expected to decrease, which supports the price [26]. - **Other Chemicals**: - **Methanol**: The shipping risk in the Strait of Hormuz increases, and the methanol price rebounds. The import volume decreases, and the port inventory decreases [24]. - **PX and PTA**: The price of PX and PTA strengthens, and the market is concerned about the oil tanker passage in the Strait [29]. - **Ethylene Glycol**: The new capacity has long - term pressure, and the price rebounds due to the tense situation in Iran [30]. - **Short - Fiber and Bottle - Chip**: The short - fiber inventory rises, and the bottle - chip load rises. The market is affected by the Middle East situation and follows the raw material fluctuations [31]. - **Asphalt**: The domestic refineries are worried about the raw material supply, and the production capacity utilization rate is expected to decrease. The asphalt price follows the oil price but has a relatively limited range [22]. - **Urea**: The urea price rises, the domestic supply is high, and the demand is in the peak season. The price is expected to be strong within the range [23]. Agricultural Products - **Grains and Oils**: - **Soybeans, Soybean Meal, and Rapeseed Meal**: The US - Iran war situation affects the price, and the domestic soybean meal price is supported by the rising import cost. The supply of rapeseed is expected to increase [35]. - **Soybean Oil, Palm Oil, and Rapeseed Oil**: The soybean import cost rises, and the vegetable oil price is affected by the crude oil market. Attention should be paid to the Middle East situation and the crude oil market [36]. - **Corn**: The domestic corn price is affected by the geopolitical situation. The US corn price follows the crude oil price. The domestic corn futures may follow the geopolitical factors in the short term [38]. - **Livestock and Poultry**: - **Pigs**: The pig price is in the process of secondary bottom - building, the inventory pressure is large, and the far - month contract can be considered for long positions after the premium narrows [39]. - **Eggs**: The egg price is supported by the rising soybean meal price. The supply is expected to decrease, and the price is expected to strengthen. It is recommended to go long on the egg futures contract [40]. - **Cash Crops**: - **Cotton**: The cotton price rises, the commercial inventory is well digested, and the supply is expected to be tight. The demand feedback is average, and the mid - term outlook is cautiously bullish [41]. - **Sugar**: The international sugar production situation varies. The domestic sugar price is under pressure in the short term, and attention should be paid to the production situation [42]. - **Apples**: The apple futures price is in a high - level shock. The demand in the northwest is good, but the quality in Shandong is poor, and the inventory is high. It is recommended to wait and see [43]. - **Wood**: The wood price fluctuates. The supply is expected to be tight, the demand is increasing, and the low inventory supports the price. It is recommended to wait and see [44]. - **Paper Pulp**: The paper pulp price rises slightly, the inventory is at a high level, the overseas quotation is strong, and the mid - term trend is expected to be range - bound [45]. Others - **Shipping**: The spot price of the container shipping index (European line) is under pressure, but the sentiment of the Middle East situation provides some support. The market is dominated by sentiment and is prone to fluctuations [20].

1. Report Industry Investment Rating There is no information about the report industry investment rating in the provided content. 2. Core Views of the Report - The US government's stance on strategic oil reserve release changed rapidly, from "opposing" to "actively promoting" the largest - scale release in history, reflecting the high instability of the Trump administration's decision - making during the Iran war. The release was driven by concerns about the blockade of the Strait of Hormuz [7]. - For PX, due to cost support and supply contraction, the unilateral price reached a new high. It is not recommended to chase the high in the short - term, but to go long on dips in the medium - term, and adopt a positive spread trading strategy for the price difference between contracts [9]. - PVC shows a strong and volatile market due to cost support and supply reduction. The supply - demand structure may reverse, but the trading volume on the futures market has not increased significantly, and the dynamics of ethylene - based plants and Chinese export orders need to be continuously tracked [10][129]. 3. Summary According to Relevant Catalogs 3.1 Metals 3.1.1 Gold and Silver - Gold: Geopolitical conflicts have broken out. The price of gold is affected by geopolitical factors, and the market shows certain fluctuations. The trend strength is 0 [13][17]. - Silver: Attention should be paid to liquidity contraction. The price of silver also fluctuates, and the trend strength is 0 [13][18]. 3.1.2 Copper - The upward movement of the US dollar restricts the price increase of copper. The market is affected by macro - economic data and geopolitical situations. The trend strength is 0 [13][21]. 3.1.3 Zinc - Zinc is in a range - bound oscillation. The market is affected by factors such as inventory and supply - demand relationship. The trend strength is 0 [13][24]. 3.1.4 Lead - Lead lacks driving factors and shows a low - level oscillation. The trend strength is 0 [13][27]. 3.1.5 Tin - Tin is in an oscillatory adjustment. The trend strength is 0 [13][29]. 3.1.6 Aluminum, Alumina, and Casting Aluminum Alloy - Aluminum shows a strong and oscillatory trend. Alumina's cost is rising, and casting aluminum alloy follows the trend of electrolytic aluminum. The trend strength of all three is 1 [13][33]. 3.1.7 Platinum and Palladium - Platinum follows the decline of gold and silver, and palladium shows a low - level oscillation. The trend strength of both is 0 [13][36]. 3.1.8 Nickel and Stainless Steel - Nickel: The tight supply at the ore end supports the current situation, but the accumulation of smelting inventory limits its upward elasticity. The trend strength is 0 [13][41]. - Stainless steel: Affected by macro - risk preferences, the actual cost center has moved up. The trend strength is 0 [13][41]. 3.2 Energy 3.2.1 Crude Oil - The US government's decision on strategic oil reserve release has a significant impact on the oil market. The International Energy Agency (IEA) approved the release of a record - high 4 billion barrels of oil reserves, which is expected to have an impact on oil prices [7][25]. 3.2.2 Coal - Coking coal and coke are in a wide - range oscillation. The market is affected by factors such as supply - demand relationship and policy. The trend strength of both is 0 [13][68]. - Thermal coal: The supply - demand situation is becoming looser, and the coal price is in a downward adjustment. The trend strength is - 1 [13][72]. 3.3 Chemicals 3.3.1 PX, PTA, and MEG - PX: Supply contraction leads to a continuous strengthening of the unilateral price. The trend strength is 2 [79][86]. - PTA: The price has bottomed out and rebounded. The trend strength is 2 [79][86]. - MEG: Supply contraction leads to a strengthening of the unilateral price. The trend strength is 2 [79][86]. 3.3.2 Rubber - Rubber shows a strong and oscillatory trend. The trend strength is 1 [87]. 3.3.3 Synthetic Rubber - Synthetic rubber has a wide - range intraday oscillation, and the price center has moved up. The trend strength is 1 [90]. 3.3.4 LLDPE and PP - LLDPE: Due to high geopolitical uncertainties, the supply contraction of cracking continues. The trend strength is 1 [93]. - PP: The supply of various raw materials is restricted, and the upstream production starts to contract. The trend strength is 1 [93]. 3.3.5 Caustic Soda - Caustic soda shows a strong and oscillatory market due to passive supply reduction. The trend strength is 1 [97]. 3.3.6 Pulp - Pulp is in an oscillatory operation. The trend strength is 0 [99]. 3.3.7 Glass - The price of glass raw sheets is stable. The trend strength is 1 [104]. 3.3.8 Methanol - Methanol is in a high - level wide - range oscillation. The trend strength is 0 [107]. 3.3.9 Urea - Urea is in a wide - range oscillation, and the fundamentals support the price. The trend strength is 0 [111]. 3.3.10 Styrene - Styrene shows a strong and oscillatory trend. The trend strength is 1 [114]. 3.3.11 Soda Ash - The spot market of soda ash has little change. The trend strength is 1 [116]. 3.3.12 Propylene - Due to geopolitical disturbances at the cost end, there is an expected reduction in supply. The trend strength is 1 [121]. 3.3.13 PVC - PVC shows a strong and oscillatory market due to cost support and supply reduction. The trend strength is 1 [10][129]. 3.3.14 Fuel Oil and Low - Sulfur Fuel Oil - Fuel oil continues to decline and may turn weak in the short - term. The trend strength is - 1 [132]. - Low - sulfur fuel oil has a continuous night - session correction, and the price difference between high - and low - sulfur fuels in the spot market continues to rise. The trend strength is - 1 [132]. 3.4 Shipping - The container shipping index (European line) is dominated by geopolitical sentiment and has large fluctuations. The trend strength is 1 [134]. 3.5 Agricultural Products 3.5.1 Short - Fiber and Bottle Chips - Short - fiber: It shows high - level fluctuations, and attention should be paid to the upward risk. The trend strength is 1 [149]. - Bottle chips: It shows high - level fluctuations, and attention should be paid to the upward risk. The trend strength is 1 [149]. 3.5.2 Offset Printing Paper - Offset printing paper is recommended to be on the sidelines. The trend strength is 0 [152]. 3.5.3 Pure Benzene - Pure benzene shows a strong and oscillatory trend. The trend strength is 1 [157]. 3.5.4 Palm Oil and Soybean Oil - Palm oil: With the upcoming release of RVO, the oil market is running strongly. The trend strength is 1 [162]. - Soybean oil: Supported by the cost of US soybeans, it shows a short - term high - level oscillation. The trend strength is 1 [162]. 3.5.5 Soybean Meal and Soybeans - Soybean meal: After reaching a phased high, the price has fallen back and is in an adjustment oscillation. The trend strength is 0 [168]. - Soybeans: The spot price is stable, and the futures price is in an adjustment oscillation. The trend strength is 0 [168]. 3.5.6 Corn - Corn is in an oscillatory operation. The trend strength is 0 [171]. 3.5.7 Sugar - Sugar is in a range - bound arrangement. The trend strength is 0 [174]. 3.5.8 Cotton - Cotton is waiting for new driving factors. The trend strength is 1 [179]. 3.5.9 Eggs - Eggs are in a range - bound oscillation. The trend strength is 0 [184]. 3.5.10 Hogs - Hogs have passive inventory accumulation, and the spot price is slowly declining. The trend strength is - 1 [187]. 3.5.11 Peanuts - Peanuts are affected by macro - factors. The trend strength is 0 [191].

Group 1 - The Iranian ambassador to Cyprus reported that the new Supreme Leader, Mojtaba Khamenei, was injured during an airstrike by the US and Israel on February 28, and that the previous Supreme Leader, Ali Khamenei, was killed in that attack [1] - The son of the Iranian president claimed that Mojtaba Khamenei is "safe" and that he has confirmed this with friends in contact with him [1] Group 2 - US energy stocks saw a collective rise, with Occidental Petroleum increasing by over 4%, and crude oil prices surged by 6% at the opening [2] - Iran announced its capability to completely block the Strait of Hormuz and plans to implement a "chain strike" strategy [2] - A significant oil reserve release plan was announced, with a maximum of 400 million barrels to be released, marking the largest scale in history [2]

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - The report believes that due to the ongoing geopolitical conflicts in the Middle East, international crude oil futures prices remain in a relatively strong pattern, which boosts domestic energy and chemical commodity futures prices. Although the US President signaled a possible end to the war with Iran, the actions between the US - Israel and Iran may not end, and geopolitical risks still exist. The IEA member countries have agreed to release 400 million barrels of strategic reserve crude oil, with the US planning to release 172 million barrels to suppress the short - term rapid rise in oil prices. In the short term, geopolitical risks persist, and the crude oil premium has increased again. It is expected that domestic crude oil futures on Thursday may maintain a trend of oscillating and strengthening [5]. 3. Summary by Relevant Catalog 3.1 Price and Trend - For the crude oil 2604 contract, the short - term, medium - term, and intraday trends are all oscillating and strengthening, with the core logic being the ongoing geopolitical conflicts [1]. - The intraday and medium - term views of crude oil (SC) are both oscillating and strengthening, and it is expected that domestic crude oil futures on Thursday may maintain this trend [5]. 3.2 Driving Logic - Although the US President signaled a possible end to the war with Iran, the actions between the US - Israel and Iran may not end, and the Middle East geopolitical risks still exist, keeping international crude oil futures prices in a strong pattern [5]. - As oil prices rise sharply, IEA member countries have agreed to release 400 million barrels of strategic reserve crude oil, with the US releasing 172 million barrels to suppress short - term rapid price increases [5]. - Geopolitical risks remain in the short term, and the crude oil premium has increased again. The prices of domestic and international crude oil futures remained firm and rebounded significantly on Wednesday night [5].

霍尔木兹海峡是全球能源运输要道，承载全球约四分之一石油海上运输量以及大量液化天然气和化肥运输。当 前中东地区紧张局势，导致霍尔木兹海峡航运陷入"近乎停滞"状态。 伊朗局势对全球市场的影响，仍在持续！ 油价的飙升，再度引发市场对通胀的担忧。3月12日早间，日本、韩国股市跌幅均一度超过1%。 截至发稿， 日经225指数跌0.78%，韩国KOSPI指数跌0.25%。另外，澳大利亚标普200指数跌1.18%，富时马来西亚KLCI指 数跌0.51%。欧美主要股指期货也集体跳水。目前，道指期货跌0.87%，纳指期货、标普500指数期货跌幅均接 近0.70%。欧洲斯托克50指数期货下跌0.65%，德国DAX指数期货下跌0.80%。 伊朗局势最新消息方面，当地时间12日凌晨，两艘外国油轮在伊拉克领海内遭袭。随后，有消息称，伊拉克石 油港口全面停止运营。上述消息再度刺激油价上涨，WTI原油、布伦特原油盘中涨幅均一度超过8%，目前涨 幅仍维持在6%以上。 当地时间3月11日，美国总统特朗普表示，美国在对伊朗的战争中处于"有利地位"，美国将重点关注霍尔木兹 海峡局势。特朗普还表示，美国知道伊朗的"秘密组织"在哪里，他们都在密切监控 ...

上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限量发放！先到先得！ 伊朗局势对全球市场的影响，仍在持续！ 油价的飙升，再度引发市场对通胀的担忧。3月12日早间，日本、韩国股市跌幅均一度超过1%。 截至发 稿，日经225指数跌0.78%，韩国KOSPI指数跌0.25%。另外，澳大利亚标普200指数跌1.18%，富时马 来西亚KLCI指数跌0.51%。欧美主要股指期货也集体跳水。目前，道指期货跌0.87%，纳指期货、标普 500指数期货跌幅均接近0.70%。欧洲斯托克50指数期货下跌0.65%，德国DAX指数期货下跌0.80%。 伊朗局势最新消息方面，当地时间12日凌晨，两艘外国油轮在伊拉克领海内遭袭。随后，有消息称，伊 拉克石油港口全面停止运营。上述消息再度刺激油价上涨，WTI原油、布伦特原油盘中涨幅均一度超过 8%，目前涨幅仍维持在6%以上。 上述消息再度引发油价拉升，今日早间，WTI原油期货涨幅一度超过8%，盘中突破94美元/桶；布伦特原 油期货涨幅也一度超过8%，最高触及99.54美元/桶。 霍尔木兹海峡是全球能源运输要道，承载全球约四分之一石油海上运输量以及大量液化天然气和化肥运 ...