The geopolitical situation in the Middle East has escalated, and SC crude oil and fuel oil futures have risen by the daily limit!

Gold Ten Futures October 8th news, early trading domestic crude oil futures varieties up limit, SC crude oil, high sulfur fuel oil, low sulfur fuel oil (LU) main contracts are up limit, up 10%, Guosen Futures said that during the National Day holiday, international oil prices rose sharply. Iran has been involved in the conflict in the Middle East, and the direct conflict between Israel and Iran may further escalate. Iran is an important oil producer in the Middle East. Iran's daily crude oil production exceeds 3 million barrels, and it guards the Strait of Hormuz, an important oil transportation channel in the world. If geopolitical tensions in the Middle East lead to the blockade of oil transportation in the Persian Gulf, 12 million barrels of Middle East crude oil exports will be affected every day. Changes in the situation in the Middle East may increase the urgency for the United States to replenish oil inventories, and the geopolitical premium for crude oil prices may continue until the conflict in the Middle East is resolved. It is expected that oil prices may continue to fluctuate and strengthen, and the pullback can be supported by more ideas.