Original Futures: Crude oil surges in a single day! Geopolitical supply crisis fully erupts.

The global most important spot crude oil price - spot Brent crude oil has exceeded $140 per barrel, reaching the highest level since 2008. The index has increased significantly on the basis of slightly above $128 per barrel the previous day, and has surpassed the peak during the 2022 Russia-Ukraine conflict. Previously, the market widely expected Trump to announce a ceasefire, causing a large amount of short funds to short crude oil in advance. However, Trump did not announce the end of the conflict in his speech, but instead vowed to fiercely strike Iran in the next two to three weeks. This expectation gap triggered a short-covering rally, pushing oil prices higher. Currently, the supply impact caused by the blockade of the Strait of Hormuz has exceeded 1 million barrels/day. Even if navigation is restored, it will take more than a month for the supply to recover. This means that the fundamental outlook for crude oil will remain strong in April.