On March 5, U.S.-Iran tensions continued to escalate, causing a significant impact on global energy markets. Domestic crude oil futures prices rose sharply, and the relevant industrial chain attracted widespread attention. In the domestic market, the main contract of Shanghai Crude Oil Continuous rose by 5%, 6%, 7%, and 9% successively intraday, with the highest price reaching 680.60 yuan, a recent high. The main contract of PVC Continuous rose 1% synchronously to 5,020.00 yuan.
In terms of geopolitics, the Islamic Revolutionary Guard Corps of Iran launched hypersonic missiles and drones, broke through the U.S. “THAAD” system, attacked the Israeli Ministry of Defense building and Ben Gurion International Airport, destroyed 7 radar systems, and stated that it will expand the intensity and scope of attacks. The U.S. Senate failed to block military action against Iran, vetoing a bill to limit the president’s war powers by 52 votes against and 47 votes in favor, further escalating the situation.
Affected by this, the global energy supply chain is facing an impact, the risk of shipping disruption in the Strait of Hormuz is rising, and international oil prices fluctuate sharply, with WTI crude oil once breaking through 75 US dollars per barrel. To prevent an energy crisis, U.S. President Trump promised to provide naval escort and insurance guarantees for ships passing through the Persian Gulf, and urgently met with military giants to discuss accelerating weapons production to supplement the Pentagon’s ammunition reserves.
The domestic oil and gas sector has performed strongly before, with the “Big Three Oil Companies” having achieved consecutive limit-ups. Many companies have issued risk warnings, reminding investors to pay attention to short-term fluctuations in oil prices and overheating trading risks. Analysts said that if U.S.-Iran tensions continue to escalate, it will further push up energy prices. It is recommended to pay attention to relevant targets in the oil and gas industrial chain, but be cautious of short-term correction risks.
