On June 2, 2026, the U.S. Department of Energy released the latest crude oil inventory data, showing that the U.S. Strategic Petroleum Reserve (SPR) decreased by 8 million barrels last week. The total reserve scale has dropped to 357.1 million barrels, hitting the lowest level since January 2024. Data shows that the U.S. strategic oil reserve has continued to decline for three consecutive weeks, with a cumulative reduction of nearly 27 million barrels, reflecting tight global crude oil supply fundamentals. The continuous depletion of strategic reserves means that the U.S. has limited buffer capacity to cope with short-term supply shocks in the energy market. At the same time, the geopolitical deadlock between the United States and Iran has not been effectively eased. The blockage of shipping routes in the Strait of Hormuz continues to restrict global crude oil transportation capacity, further tightening the supply side of the energy market. The superposition of low inventory and geopolitical risks has formed strong support for international oil prices. Driven by fundamental advantages, WTI crude oil steadily stood above $93 per barrel and maintained a strong volatile trend. The sustained strength of energy prices has continued to bring imported inflation pressure to European and American economies, restricting the space for overseas central banks to loosen monetary policy. Market institutions predict that in the short term, the global crude oil supply gap will remain difficult to fill. International oil prices will maintain a high and volatile pattern, and the energy inflation factor will continue to dominate global macro market trends.