Expanding on the topic of crude oil, oil prices dropped during early trading today but quickly rebounded. The main reason seems to be the failure of Trump’s measures last Friday to suppress oil prices by purchasing diesel from Russia. As the Iranian Foreign Ministry stated, Trump’s move to buy oil from Russia, violating conventional political logic, shows that he is no longer capable of solving refined oil supply issues on his own. For one enemy to compromise with another enemy—this kind of thing wouldn’t look like a winning strategy in any country. Trump’s actions, exposing his own weakness, can be described as desperate and reckless. In the end, not only will it fail to solve the problem, but it may also backfire. Whether the procurement of diesel from Russia can ultimately be implemented will likely face opposition from U.S. domestic suppliers and their representative forces. Ukraine has also been ignoring Trump’s pressure. If Ukraine and its supporters continue attacking Russian energy facilities, it will restrict Russia’s export capacity. For Russia, the truly valuable outcomes might be sanctions relief and refinery security. From the perspective of interest exchange, Putin gains not just the revenue from selling a few shipments of diesel but also policy space for Russian energy to re-enter the market. Trump, on the other hand, hopes to achieve lower fuel prices and a halt to the mutual attacks on energy facilities between Russia and Ukraine. But all of this hinges on whether he can control Zelensky, and judging by the current situation, things don’t look optimistic. If sanctions on Russian oil are eventually lifted, global oil prices would indeed stabilize. After all, the Strait of Hormuz accounts for only 20% of global exports. If the strait remains closed, the global crude oil supply structure will inevitably change, and other oil-producing regions will expand production to capture this portion of the market. Therefore, Iran will likely intermittently allow passage to prevent the demand for crude oil production from shifting elsewhere. @BITstocks_CN Buy U.S. stocks on BIT, with access to 10,000+ U.S. stocks and ETFs, real holdings, and dividend payouts.