Brent crude oil fell below the $100 per barrel mark, currently trading at $99.8 per barrel, with intraday gains narrowing to about 10%.

Energy 1. International oil prices opened sharply higher on Monday, with WTI crude oil briefly approaching the $120 mark, surging over 30% intraday. Brent crude oil briefly broke through $115 per barrel, surging 25% intraday. US natural gas futures rose nearly 10% at one point. 2. A wave of production cuts swept through the Middle East: ① Iraq's daily oil production plummeted from 4.3 million barrels to 1.3 million barrels. ② The Abu Dhabi National Oil Company and the Kuwait Oil Company announced production cuts over the weekend. ③ According to foreign media reports on Monday, Kuwait halted oil production due to the closure of the Strait of Hormuz. 3. Multiple Iranian oil storage facilities were attacked; US media reports significant disagreement between the US and Israel regarding the scope of the strikes. 4. Trump: The surge in oil prices was an "expected fluctuation." He anticipates a rapid decline in oil prices in the short term after the Iranian nuclear threat is eliminated. 5. US senators proposed suspending the gasoline tax until October 1st, with a bill potentially submitted this week. 6. The U.S. International Development Finance Corporation announced a $20 billion marine reinsurance program in the Gulf region. 7. U.S. Energy Secretary: A large oil tanker passed through the Strait of Hormuz 24 hours ago. The resumption of regular shipping is not far off. 8. The U.S. lifted its warning requiring commercial vessels to avoid the Strait of Hormuz and the Persian Gulf. 9. U.S. media: The U.S. has internally discussed the possibility of seizing Hag Island, Iran's strategic oil export terminal, which handles approximately 90% of Iran's crude oil exports. 10. South Korea is considering implementing an oil price cap, the first time in 30 years. 11. Thailand plans to issue an emergency decree to address a potential energy crisis. 12. Vietnam plans to temporarily suspend fuel import tariffs until the end of April to ensure supply. 13. According to Nikkei: Japan has requested its oil reserve agency to prepare to release oil reserves. 14. British media: G7 finance ministers will hold an emergency meeting at 8:30 PM Beijing time tonight to discuss the possibility of jointly releasing emergency oil reserves. 15. With the Strait of Hormuz blocked, Saudi Aramco launched a rare spot tender to sell 4.6 million barrels of crude oil. 16. Sources: The Berri oil field near Saudi Arabia's east coast was attacked. 17. International Energy Agency: Logistical disruptions pose challenges, but global oil supplies remain ample. 18. Shipping documents show Venezuela resumed diluted crude oil (DCO) exports after a 15-month hiatus. 19. Pakistan's Oil Minister: Pakistan will raise diesel and gasoline prices by 55 rupees per liter. Precious Metals and Mining 1. Dubai gold faces a "flight disruption" crisis; air freight disruptions cause significant discounts. 2. Indonesian Nickel Industry Association: Indonesia's nickel capacity utilization rate may drop to 70%, and nickel ore imports are expected to increase significantly. 3. US Treasury Department: The US has issued licenses authorizing specific activities involving Venezuelan-origin gold. 4. US President Trump: Formal recognition of the Venezuelan government will promote the sale of Venezuelan gold. 5. US Interior Secretary Bergham: $100 million worth of gold was shipped from Venezuela to the US on Friday. The Venezuelan people will erect a statue of the Great Liberator in honor of Trump. 6. People's Bank of China: China's gold reserves at the end of February were 74.22 million ounces (approximately 2,308.5 tons), an increase of 30,000 ounces (approximately 0.93 tons) month-on-month, compared to 74.19 million ounces (approximately 2,307.567 tons) at the end of January, marking the 16th consecutive month of increases in gold reserves. Other: 1. Maersk suspends two container shipping routes due to the Middle East conflict. 2. Saudi Arabia adds a new Maersk shipping service at Jeddah port, increasing its capacity by 17,000 TEUs.

According to the Tehran Times: A political source revealed that the Iranian president's speech yesterday was a trap to test the US reaction. The result was interesting: Trump was ecstatic and spoke enthusiastically about Iran's surrender.