According to data released by the Shanghai Aviation Exchange and the US Energy Information Administration, US commercial crude oil inventories, excluding strategic reserves, increased by 17.423 million barrels to 424 million barrels in the week ending August 7, 2026, an increase of 4.28%. US domestic crude oil production increased by 10,000 barrels to 13.855 million b/d, crude oil exports decreased by 627,000 b/d to 3.058 million b/d, and crude oil imports were 7.339 million b/d, up 1.141,000 b/d from the previous week. The average four-week supply of crude oil products was 20.720 million b/d, down 2.07% from the same period last year. On Wednesday, a senior adviser to the commander of the Islamic Revolutionary Guard Corps of Iran sent a signal of long-term confrontation. The US and Iran still have clear differences on how to restore more stable transportation arrangements and how to advance the previously formed temporary framework. There is no sign of easing in the game between public opinion, diplomacy, or military levels. The Strait of Hormuz is still in a state of near stagnation. The threshold for reopening conditions proposed by Iran is high, and it is more difficult to reach an agreement in the short term. Once the conflict continues to ferment, the risk of global crude oil transportation will rise further, and the energy market will continue to withstand the impact of geopolitical conflicts. Brent crude oil futures rose slightly this week, reaching $86.79 per barrel on Thursday, up 4.13% from August 6. Freight rates for VLCC tankers in the global crude oil transportation market continue to rise. Freight rates in China's imported VLCC transportation market first rose and then fell. On August 13, the Shanghai Shipping Exchange released the China Imported Crude Oil Composite Index at 5347.41 points, up 3.0% from August 6.

According to data released by the Shanghai Aviation Exchange and the US Energy Information Administration, US commercial crude oil inventories, excluding strategic reserves, increased by 17.423 million barrels to 424 million barrels in the week ending August 7, 2026, an increase of 4.28%. US domestic crude oil production increased by 10,000 barrels to 13.855 million b/d, crude oil exports decreased by 627,000 b/d to 3.058 million b/d, and crude oil imports were 7.339 million b/d, up 1.141,000 b/d from the previous week. The average four-week supply of crude oil products was 20.720 million b/d, down 2.07% from the same period last year. On Wednesday, a senior adviser to the commander of the Islamic Revolutionary Guard Corps of Iran sent a signal of long-term confrontation. The US and Iran still have clear differences on how to restore more stable transportation arrangements and how to advance the previously formed temporary framework. There is no sign of easing in the game between public opinion, diplomacy, or military levels. The Strait of Hormuz is still in a state of near stagnation. The threshold for reopening conditions proposed by Iran is high, and it is more difficult to reach an agreement in the short term. Once the conflict continues to ferment, the risk of global crude oil transportation will rise further, and the energy market will continue to withstand the impact of geopolitical conflicts. Brent crude oil futures rose slightly this week, reaching $86.79 per barrel on Thursday, up 4.13% from August 6. Freight rates for VLCC tankers in the global crude oil transportation market continue to rise. Freight rates in China's imported VLCC transportation market first rose and then fell. On August 13, the Shanghai Shipping Exchange released the China Imported Crude Oil Composite Index at 5347.41 points, up 3.0% from August 6.