**[Global Oil Transit Volume Rebounds, Tanker Rental Rates Surge]** Golden Finance reported on June 26, citing CCTV Finance, that S&P Global Energy released a report on the 25th stating that 78 vessels passed through the Strait of Hormuz on the 24th, marking the highest single-day transit record since the outbreak of the U.S.-Israel-Iran conflict. The average daily transit volume of ships through the Strait of Hormuz this month has recovered to approximately 57%, the level prior to the conflict. It is understood that the rebound in transit volume through the Strait of Hormuz, coupled with autumn and winter energy stockpiling in multiple countries, has led to a significant surge in international tanker rental rates, which has had mixed effects on domestic upstream and downstream industries. On one hand, the easing of tensions in the shipping lanes has caused risk insurance premiums for shipping companies to decline, combined with rising freight rates, thereby increasing profit margins. On the other hand, refining enterprises are facing significant pressure, as higher maritime transport costs directly push up crude oil delivery prices, compressing refining and processing profits. Given China's heavy reliance on imported crude oil, many refining enterprises are seizing the current window of opportunity to accelerate crude oil stockpiling.