It is very much agreed with what Brother Owen said, that currently the war between Iran and the United States has not eased, but rather intensified, yet oil prices are only fluctuating within a very narrow range, not reflecting the situation of the war mainly due to the oil released by the IEA. However, this strategy of releasing strategic reserves is limited, possibly lasting from several weeks to several months.

But if the reserves are not finished releasing before the end, or if there is information about large consumption of reserves, market risk could transmit to other commodities. And oil prices reaching 120 dollars or higher could happen in an instant; currently, institutions have already reached a high point in going long on oil, anticipating that the war may not end quickly.

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