Core Viewpoint - Crude oil futures, including Brent and WTI, experienced a decline of over 2% in a single day, indicating market volatility and potential impacts on the energy sector [1] Group 1: Market Reaction - The drop in crude oil prices suggests a reaction to geopolitical developments, particularly involving Israel and Iran [1] - The mention of peace talks by former President Trump may influence market sentiment and investor confidence in the region [1] Group 2: Geopolitical Context - Trump's statement about Israel and Iran seeking peace indicates a potential shift in diplomatic relations, which could have implications for oil supply and pricing [1] - The optimistic outlook for the future of Israel and Iran may affect regional stability and energy markets [1]

Group 1 - Spot gold has turned to a decline of nearly 0.1%, falling below $3430 per ounce [1] - WTI and Brent crude oil futures have seen their gains narrow to less than 1% [1]

美股期货收复稍早失地，转为小幅上涨；布油、WTI原油期货涨幅收窄至1.5%以内。 ...

原油期货周一亚市盘初大幅走高，布油期货涨5.5%，WTI涨逾6%。 ...

Group 1 - Israel launched airstrikes against Iran, targeting military and nuclear facilities, with the operation named "Lion's Strength" [3][6][9] - Israeli Defense Minister Katz announced that the military action would continue for several days, indicating a prolonged conflict [4][10] - The strikes reportedly resulted in the deaths of an Iranian military commander and a senior nuclear scientist [1] Group 2 - Following the attacks, oil prices surged, with Brent and WTI crude futures both rising over 8% [14] - Oil and gas stocks in the A-share market opened significantly higher, with companies like Tongyuan Petroleum and Beiken Energy hitting their daily limit [13] - Gold prices also increased, with spot gold surpassing $3,420 per ounce, reflecting a rise of over 1% [11][16]

Core Viewpoint - A-shares in the oil and gas sector experienced a significant surge in opening prices, driven by geopolitical tensions and rising crude oil prices [1] Group 1: Market Reaction - Companies such as Tongyuan Petroleum, Beiken Energy, Zhongman Petroleum, and Zhunyou Co. reached their daily price limit [1] - Potential Energy surged over 17%, while other companies like Xinjin Power, Huibo, and Renzhi also opened high [1] Group 2: External Factors - The spike in oil and gas stocks is attributed to Israel's attack on Iran, which has led to an increase of over 8% in both Brent and WTI crude oil futures [1]

国际金价5月小幅下跌 今年以来上涨超25% 贵金属方面，纽商所黄金期货主力合约5月小幅下跌，跌幅约为 0.11%。今年以来，国际金价累计上涨 约25.5%。 本周欧洲央行将公布最新利率决议 降息或"板上钉钉" 【#国际金价年内上涨超25%##5月纳指涨幅接近10%#】首先来看美股上周交易的情况。受美欧贸易谈 判出现积极信号、美国国际贸易法院一度"叫停"特朗普政府多项关税措施提振市场情绪等因素影响，上 周道指累计上涨1.6%，标普500上涨1.88%，纳指涨2.01%。在刚刚过去的5月，美国三大股指全部累计 上涨，大部分上涨发生在美国和英国宣布初步达成贸易协定之后，其中纳指涨幅接近10%。 上周国际油价下跌 油价方面，"欧佩克+"计划在7月大规模增产的消息令投资者担忧原油将长期出现供大于求的局面，国际 油价上周承压下跌。美油期货价格全周累计下跌1.20%，布油期货价格累计下跌1.36%。 本周美国5月非农就业报告和美联储"褐皮书"受关注 当地时间本周五，美国将公布5月非农就业报告。分析预计，美国5月非农新增就业人数将从上月的17.7 万人大幅下降至13万人，失业率预计持平在4.2%，美国就业市场或将出现降温信号 ...

国际油价走高，WTI原油期货涨超2%，布油期货涨近2%。 ...

布油期货跌破64美元/桶，日内跌近1.6%。此前报道称OPEC+讨论7月再次大规模增产。 ...

1. Overnight Market Trends International Market - International oil prices rose across the board, with the June contract of US crude up 3.11% at $63.75 per barrel and the June contract of Brent crude up 2.75% at $67.66 per barrel [2]. - International precious metal futures generally closed down, with COMEX gold futures down 0.15% at $3341.30 per ounce and COMEX silver futures down 1.32% at $32.55 per ounce [2]. - Most London base metals rose, with LME lead up 1.23% at $1927.50 per ton, LME tin up 1.16% at $31320.00 per ton, etc., while LME aluminum fell 0.15% at $2385.00 per ton [2]. - CBOT agricultural product futures contracts were mixed, with soybean futures down 0.33% at 1046.75 cents per bushel, corn futures down 0.25% at 490.5 cents per bushel, and wheat futures up 0.09% at 561.5 cents per bushel [2]. Domestic Market - Domestic commodity futures night - trading generally closed down. Energy and chemical products mostly fell, while crude oil rose 3.4% and low - sulfur fuel oil rose 1.76%. Black - series products all fell. Agricultural products and base metals were mixed [3]. 2. Important News Macroeconomic News - Trump expects the European Central Bank to cut interest rates for the seventh time and criticizes Fed Chairman Powell for being "too late" and making wrong decisions, calling for Fed rate cuts [6]. - China's GDP in Q1 2025 grew 5.4% year - on - year, with the primary industry up 3.5%, the secondary industry up 5.9%, and the tertiary industry up 5.3% [6]. - The G20 Development Working Group's second meeting was held, with China clarifying its stance on the US "reciprocal tariffs" and many parties calling for maintaining the multilateral trading system [7]. - Premier Li Qiang emphasized the importance of policy timing and intensity, suggesting early and forceful policy actions [7]. - The European Central Bank cut the deposit mechanism rate by 25 basis points to 2.25%, and also cut other key rates, bringing borrowing costs to the lowest since early 2023 [7]. - Many institutions predict that macro - stimulus policies may be intensified in Q2, and it is an important observation window for reserve requirement ratio and interest rate cuts [7]. Energy and Chemical Futures - The production of the float glass industry was basically stable, with the average operating rate at 75.66% (up 0.24% month - on - month) and the average capacity utilization rate at 79.03% (unchanged month - on - month). The total inventory of sample enterprises decreased slightly [10]. - Domestic retail prices of gasoline and diesel were cut by 480 yuan and 465 yuan per ton respectively [10]. - Singapore's fuel oil inventory rose to a 17 - week high, light distillate oil inventory fell to a 19 - week low, and middle distillate oil inventory rose to a 3 - week high [10]. - The total inventory of domestic soda ash manufacturers increased slightly, with light soda ash inventory up and heavy soda ash inventory down [11]. Metal Futures - A zinc smelter in Southwest China postponed its maintenance plan to late May, and a large die - casting zinc alloy factory in East China suspended raw material procurement due to high inventory [13]. - Switzerland's gold exports to the US in March decreased by 32%, and the total gold exports decreased by 27% month - on - month, while imports increased by 4% [13]. - Peru's copper production in February increased slightly year - on - year, and it is expected to rebound by 2% - 4% in 2025 [15]. - Alphamin Resources restarted tin production at its Bisie mine in the DRC [15]. Black - series Futures - HeSteel Group set the April silicon - manganese price at 5950 yuan/ton, with an increase in procurement volume [17]. - Rebar apparent demand increased for the ninth consecutive week, factory inventory and production decreased, and social inventory decreased for the sixth consecutive week [17]. - The export of iron ore and spodumene concentrate from Port Hedland in March increased compared to February [17]. - The utilization rate of coking coal mines increased to a 3 - month high, with an increase in daily coal production and inventory [18]. Agricultural Futures - As of April 17, the grain - selling progress of farmers in 13 provinces and 7 major producing provinces was faster than the same period last year [21]. - The number of ships waiting to load sugar in Brazilian ports and the quantity of sugar waiting to be shipped increased [21]. - As of the end of March, textile enterprises' cotton inventory increased, with 35% of enterprises increasing inventory [21]. - The sugar - cane crushing season in Maharashtra, India is coming to an end, with lower sugar recovery rate than last year [21]. - Brazil's 2024/2025 sugar - cane and sugar production forecasts were adjusted slightly [22]. - Abiove raised its forecast for Brazil's 2025 soybean exports to a record high and lowered the estimated ending inventory [22]. - US soybean export net sales in 2024/2025 and 2025/2026 met or exceeded market expectations [24]. - The IGC estimated that the global soybean production in 2025/26 would increase, trade volume would decrease, and consumption would increase [24]. 3. Financial Market Financial Sector - Six departments including the central bank issued guidelines on cross - border data flow in the financial industry [26]. - The Securities Association of China drafted an evaluation method for securities companies in promoting financial development [26]. - 28 wealth management companies' equity - related asset scale at the end of 2024 was relatively small [26]. - The number of public fund managers reached a new high [26]. Real Estate Market - Qingdao launched a "trade - in" housing program, planning to acquire over 1200 second - hand houses [27]. Industrial Sector - The Ministry of Industry and Information Technology launched an energy - saving and carbon - reduction diagnosis service for high - energy - consuming industries [28]. - The State Administration for Market Regulation launched an advertising market rectification campaign [28]. - The Ministry of Commerce continued to impose anti - dumping duties on Japanese electrolytic capacitor paper for 5 years [29]. - National railway passenger volume in Q1 reached a record high [30]. - The comprehensive inventory coefficient of automobile dealers in March was above the warning line [31]. - Zhejiang launched a cross - border e - commerce market expansion action [32]. - A seminar on the "Product Digital Passport" is to be held, and related achievements will be released [32]. Overseas Market - Trump called on the Fed to cut interest rates and believed Powell would leave if asked [34]. - The central banks of South Korea, Ukraine, Turkey, and Egypt made different interest - rate decisions [35][36][37][41]. - US economic data including initial jobless claims, manufacturing index, and housing starts showed mixed performance [38][39]. - Germany's March PPI decreased both year - on - year and month - on - month [40]. - Switzerland's trade surplus in March increased [42]. - Australia's unemployment rate remained stable in March, and employment increased [44]. International Stock Market - Chinese concept stocks showed mixed performance, with some rising and some falling [45]. - NVIDIA's CEO Huang Renxun visited Beijing and expressed the hope to continue cooperation with China [46]. - Apple's CEO Cook had a private talk about iPhone price hikes [47]. - Blackstone Group's Q1 revenue and net profit decreased compared to the previous year [48]. - Hermès' Q1 revenue was slightly lower than expected, and it plans to raise prices in the US [49]. - UnitedHealth Group's Q1 revenue and profit increased significantly, but adjusted EPS forecast for 2025 was lowered [49]. - ASML expects strong performance in the Chinese market and has no plan to build a factory in the US [50]. - The "Stargate" AI project led by OpenAI and SoftBank is considering investing in the UK [51]. - Ford Motor recalled 24,655 vehicles in the US due to safety issues [53]. - Netflix's Q1 earnings exceeded expectations [54]. Commodity Market - Domestic commodity futures night - trading generally closed down, with some energy and chemical products falling and some rising [55]. - Domestic refined oil prices had the fourth cut this year, with the largest decline in nearly three years [56]. - Asia's Q1 cocoa processing volume decreased year - on - year [57]. - BHP Billiton's expected Q3 copper production and annual production guidance were announced [58]. - US EIA natural gas inventory increased less than expected last week [59]. - The price of domestic battery - grade lithium carbonate remained stable [60]. - The Baltic Dry Index rose, ending a two - day decline [61]. Bond Market - The bond market weakened, with treasury bond futures falling and bond yields rising. The central bank may provide liquidity support [63]. - Convertible bond indexes rose slightly, with some individual bonds having significant price changes [64]. - There were major events in the bond market, including bond redemptions, debt defaults, and full bond buy - backs [64]. Foreign Exchange Market - The on - shore RMB against the US dollar rose, and the central parity rate was adjusted upwards [65]. - The RMB's share in global payments in March was 4.13%, slightly lower than the previous value [66].