[Middle East Geopolitical Risks Escalate, Crude Oil Sector Hits Limit-Up at Opening] Reported by Jinse Finance, the main contracts for SC crude oil, fuel oil, and low-sulfur fuel oil (LU) all hit limit-up at the opening this morning. According to a research report by Guosen Futures, on February 28, following attacks on Iran by the U.S. and Israel, Iran announced the closure of the Hormuz Strait shipping channel. Multiple oil tanker owners and traders have suspended the transportation of crude oil, fuel, and liquefied natural gas through this strait. EIA data shows that U.S. oil production in December fell to 13.66 million barrels per day. The decline in U.S. monthly oil production has boosted market sentiment, though future oil production is still expected to increase. The negotiations between the U.S. and Iran face significant disagreements, and Iran is unlikely to yield or compromise with the U.S. The conflict may persist for an extended period, and oil prices are likely to continue rising in March. (This content and viewpoint are for reference only and do not constitute any investment advice.) (Jin10)