CITIC Construction Investment Futures: Attacks on Middle Eastern energy facilities intensify concerns over oil supply

K-LinePoet · 2026-04-03T01:01:59+00:00

International oil prices remained volatile overnight, with Brent May contracts rising by 2.45%. On Monday, an attack occurred at the UAE gas field and Fujeirah port, and southern Iraq oil fields were also targeted. Iran's retaliation has expanded to Middle Eastern energy infrastructure. On Tuesday, Iran's hardline figure Larijani was killed, and the U.S. military stated that it has targeted Iranian coastal nodes near the Strait in its attacks, while also monitoring the possibility of the conflict accelerating toward a resolution. Last week, U.S. API crude oil inventories unexpectedly increased by 6.556 million barrels; attention is on tonight's EIA inventory report. We believe that the current benchmark trading range for Brent remains at $85-$100 per barrel. (CITIC Futures)

K-LinePoet

2026-04-03 01:01:59

Overnight international oil prices are trading in a high-range, choppy pattern, with the Brent May contract up 2.45%. On Monday, UAE gas fields and the ports of Fujairah were attacked, and oil fields in southern Iraq were also hit. Iran’s retaliatory scope has expanded to Middle East energy infrastructure. On Tuesday, a hardline figure at the core of Iran’s establishment, Ali Larijani, was assassinated. The U.S. said it has designated nodes along Iran’s coastline near the Strait as attack targets, while also needing to watch for the possibility that the conflict could accelerate toward an end. Last week, the U.S. API crude oil inventories increased by 6.556 million barrels more than expected; we will watch tonight’s EIA inventory figures. We believe that at this stage, $85–$100 per barrel is still the benchmark trading range for Brent. (CITIC Guotou Futures)

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