Today, the commodity market showed an obvious differentiation trend. Energy commodities rose sharply, while precious metals fell sharply, and market sentiment was significantly affected by geopolitical situations. International oil prices rose strongly, with New York crude oil futures closing at $94.48 per barrel, an increase of 4.61%, and Brent crude oil futures closing at $108.01 per barrel, an increase of 5.66%.

The rise in oil prices was mainly disturbed by the Middle East situation. Although Iran publicly rejected the U.S. proposal and put forward new peace conditions, the White House insisted that negotiations are still ongoing, and there is no clear sign of the end of the conflict. Market concerns about crude oil supply have intensified, driving oil prices higher. The domestic oil and gas exploration and services sector also benefited synchronously, becoming one of the few rising sectors in the A-share market.

On the contrary, precious metal prices fell sharply, with spot gold dropping 2% intraday and spot silver falling more than 3%. The spot gold price even fell below the 4,400 mark, and the silver price plummeted 6%. This was mainly due to fluctuations in market expectations for Middle East peace negotiations. Trump stated that Iran is eager to reach an agreement, which contradicts the statement of Iran’s foreign minister, leading to a cooling of safe-haven demand and pressure on precious metal prices.

In addition, domestic lithium carbonate futures prices have strengthened continuously. On March 25th, the main contract closed at 159,120 yuan per ton, an increase of 4.34% in a single day, forming a three-consecutive positive trend. This was mainly affected by the suspension of lithium ore exports from Zimbabwe and tight supply, driving battery stocks to strengthen.