Shanghai Shipping Exchange: This week, crude oil freight rates rose first and then fell.

According to the Shanghai Shipping Exchange, data released by the U.S. Energy Information Administration shows that for the week ending August 7, 2026, U.S. commercial crude oil inventories, excluding strategic reserves, increased by 17.423 million barrels to 424 million barrels, a rise of 4.28%. U.S. domestic crude oil production increased by 1,000 barrels to 13.805 million barrels per day, while crude oil exports decreased by 627,000 barrels per day to 3.058 million barrels per day. Crude oil imports stood at 7.339 million barrels per day, an increase of 1.141 million barrels per day from the previous week. The four-week average supply of crude oil products was 20.72 million barrels per day, a decrease of 2.07% compared to the same period last year. On Wednesday, a senior adviser to the commander of the Iranian Islamic Revolutionary Guard Corps issued signals of long-term confrontation, indicating that significant differences remain between the U.S. and Iran on how to return to more stable transportation arrangements and advance the previously established temporary framework. There have been no signs of easing in the competition over public opinion, diplomacy, and military aspects. The Strait of Hormuz continues to be in a nearly stagnant state, with Iran's conditions for reopening being quite stringent, making it difficult to reach a consensus in the short term. If the conflict continues to escalate, the risks to global crude oil transportation will further increase, and the energy market will continue to bear the impacts of geopolitical conflicts. This week, Brent crude oil futures prices rose slightly, reaching $86.79 per barrel on Thursday, up 4.13% from August 6. The VLCC freight rates in the global crude oil transportation market continue to rise. The freight rates in China's imported VLCC transportation market initially increased before experiencing a decline. On August 13, the China Import Crude Oil Comprehensive Index released by the Shanghai Shipping Exchange stood at 5347.41 points, an increase of 3.0% from August 6.