Geopolitical risk premium returns, crude oil prices continue to rebound

Recently, the crude oil market has been continuously disturbed by geopolitical factors. The escalating situation in the Middle East, coupled with risks in key shipping routes such as the Red Sea and Hormuz, has led the market to reassess expectations of oil supply disruptions, rising transportation costs, and increased insurance premiums. On the demand side, the peak summer travel season has driven the recovery of refined oil consumption, and US inventory and refinery operation data have also become important variables for short-term oil price fluctuations. In this context, crude oil prices have continued to rebound since July. Brent is more affected by global shipping and geopolitical risks, while WTI/CL is more affected by US inventory, refinery operating rates, and gasoline demand. If the risk premium continues, oil prices are still expected to maintain high volatility; If shipping risks ease or inventory accumulates beyond expectations, there may be downward pressure in the short term. Corresponding to the Bitget commodity perpetual contract, BZUSDT (Brent crude oil) is reported at around 93.5 USDT, and CLUSDT (crude oil/CL) is reported at around 91.2 USDT. Follow up on the 95 USDT pressure level of BZUSDT and the 92-95 USDT range performance of CLUSDT. For investors who are concerned about the volatility of crude oil, Bitget commodity perpetual contracts offer related targets such as BZUSDT and CLUSDT, which can be used to track the trends of Brent and CL crude oil: https://jump.do/zh-Hans/xlink-proxy?id=6 Risk Warning: The views, conclusions, and recommendations presented in this article are for reference only and do not constitute investment advice. The market is risky, and investment needs to be cautious.