According to the Shanghai Aviation Exchange, data released by the US Energy Information Administration this week shows that in the week ending July 10, 2026, US commercial crude oil inventories excluding strategic reserves fell by 1.692 million barrels to 410 million barrels, a decrease of 0.41%. US domestic crude oil production increased by 10,000 barrels to 13.861 million b/d, crude oil exports increased by 459,000 b/d to 3.721 million b/d, and imports were 5.689 million b/d, up 60,000 b/d from the previous week. The average four-week supply of crude oil products was 20.316 million b/d, an increase of 0.27% over the same period last year. The US-Iran conflict continued to escalate this week. The US military launched a new round of precise air strikes on missile bases, drone production facilities, and related command systems in Iran, weakening Iran's regional projection capability. Tehran quickly responded and carried out retaliatory attacks on military targets and allied facilities linked to the US in the Persian Gulf region, further heating up regional tension. Iran instructed the Houthis to block the Mander Strait as soon as the US military attacks its power grid; the US military reinstated the sea blockade against Iraq, and the number of ships passing through in a single day plummeted. For the first time, the world's two major energy centers are on the verge of being paralyzed at the same time. Market sentiment is tense, driving up oil prices. Brent crude oil futures rose sharply this week. It was reported at $84.84 per barrel on Thursday, up 11.25% from July 9. Freight rates for VLCC tankers in the global crude oil transportation market fluctuate at a high level. Freight rates in China's imported VLCC transportation market fluctuated at a high level. On July 16, the Shanghai Shipping Exchange released the China Imported Crude Oil Composite Index at 4360.85 points, up 0.7% from July 9.

According to the Shanghai Aviation Exchange, data released by the US Energy Information Administration this week shows that in the week ending July 10, 2026, US commercial crude oil inventories excluding strategic reserves fell by 1.692 million barrels to 410 million barrels, a decrease of 0.41%. US domestic crude oil production increased by 10,000 barrels to 13.861 million b/d, crude oil exports increased by 459,000 b/d to 3.721 million b/d, and imports were 5.689 million b/d, up 60,000 b/d from the previous week. The average four-week supply of crude oil products was 20.316 million b/d, an increase of 0.27% over the same period last year. The US-Iran conflict continued to escalate this week. The US military launched a new round of precise air strikes on missile bases, drone production facilities, and related command systems in Iran, weakening Iran's regional projection capability. Tehran quickly responded and carried out retaliatory attacks on military targets and allied facilities linked to the US in the Persian Gulf region, further heating up regional tension. Iran instructed the Houthis to block the Mander Strait as soon as the US military attacks its power grid; the US military reinstated the sea blockade against Iraq, and the number of ships passing through in a single day plummeted. For the first time, the world's two major energy centers are on the verge of being paralyzed at the same time. Market sentiment is tense, driving up oil prices. Brent crude oil futures rose sharply this week. It was reported at $84.84 per barrel on Thursday, up 11.25% from July 9. Freight rates for VLCC tankers in the global crude oil transportation market fluctuate at a high level. Freight rates in China's imported VLCC transportation market fluctuated at a high level. On July 16, the Shanghai Shipping Exchange released the China Imported Crude Oil Composite Index at 4360.85 points, up 0.7% from July 9.