Shanghai Shipping Exchange: Crude oil transportation prices significantly increased.

According to the Shanghai Shipping Exchange, data released by the US Energy Information Administration shows that as of the week ending June 19, 2026, commercial crude oil inventories in the United States, excluding strategic reserves, decreased by 6.088 million barrels to 412 million barrels, a decrease of 1.46%. Domestic crude oil production in the United States increased by 13,000 barrels to 13.819 million barrels per day, crude oil exports increased by 342,000 barrels per day to 4.669 million barrels per day, and imports were 5.57 million barrels per day, an increase of 436,000 barrels per day from the previous week. The four-week average supply of crude oil products was 20.473 million barrels per day, an increase of 2.11% compared to the same period last year. The first round of US-Iran talks in Switzerland ended smoothly, both sides sent out positive signals and agreed on a 60-day negotiation period, significantly improving the global outlook for oil supply and greatly alleviating concerns about disruption in the Middle East energy supply route. The resumption of normal transportation of a large amount of crude oil and the temporary exemptions policy of the United States towards Iranian oil further enhance expectations of increased supply, leading to continued pressure on the oil futures market. Although the strait has gradually resumed navigation, the Iranian Revolutionary Guards have demanded that all ships coordinate in advance to pass through the Strait of Hormuz, and violators will be punished. The new rules create potential tension with peace agreement terms, limiting the decline in oil prices. Brent crude futures prices fell slightly this week, reporting $74.56 per barrel on Thursday, down 4.84% from June 17th. The VLCC tanker freight market globally first rose then fell. The China import VLCC transportation market saw a significant increase in freight rates. On June 25th, the Shanghai Shipping Exchange released China's comprehensive import crude oil index at 5,354.35 points, up 28.5% from June 17th.