Guangda Futures: Geopolitical events fluctuate, oil prices surge at the opening.
Last weekend, the US and Iran held direct talks in Pakistan. After 21 hours of marathon negotiations, the two delegations still failed to reach a consensus. Both sides remained uncompromising on core issues such as nuclear matters and strait control. The US Central Command announced that a naval blockade of all traffic in and out of Iranian ports will begin at 10:00 am Eastern Time on April 13. With the geopolitical situation escalating again, domestic crude oil prices surged at the opening today, then remained high throughout the day with fluctuations around 4% gains. It is expected that there may still be a high risk premium in oil prices during the interruption of traffic in the Strait of Hormuz.
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