U.S. and Israel **Iran triggers a sharp rise in international oil prices

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Due to the military strikes launched by the United States and Israel against Iran, which have led to a significant escalation of geopolitical tensions in the Middle East, there is a risk of disruptions to oil supply in the international market. As a result, international crude oil futures prices rose sharply at the start of trading for the new week on the 1st. As of 18:45 ET on the 1st, the price of light crude oil futures for delivery in April on the New York Mercantile Exchange rose to a high of $75.33 per barrel, up 12.4% from the previous day’s closing price ； Futures prices for London Brent crude oil, due for delivery in May, rose to a high of $82.37 per barrel, up 13% from the previous trading day’s close. The United States and Israel launched military attacks on Iran on February 28, and that same night, Iran’s Islamic Revolutionary Guard Corps announced a ban on all ships passing through the Strait of Hormuz. Currently, several tanker owners and traders have suspended the transport of crude oil, fuel, and liquefied natural gas through this strait. According to Iran’s Mehr news agency on March 1, an unauthorized oil tanker was hit while attempting to pass through the Strait of Hormuz and is “sinking”. The Strait of Hormuz connects the Gulf of Persia with the Gulf of Oman, and it serves as a necessary route for oil exports from Middle Eastern oil-producing countries such as Saudi Arabia, Iraq, Qatar, and the UAE. Approximately one-fifth of the world’s total oil shipments pass through this strait. As geopolitical tensions in the Middle East heightened market risk-aversion, international gold and silver prices also rose, with gold futures prices increasing by over 2% at one point, and silver futures prices rising by over 3% at one point.