ChainThink News: According to market data, WTI crude oil opened sharply higher with a gap up of nearly 10%, recovering most of last week's losses, now quoted at $104.88.

On the news front, U.S.-Iran negotiations have failed. Trump stated that due to Iran's activities in the Strait of Hormuz, the entire world relies on the U.S. for oil access. At 10 PM Beijing time tonight, the U.S. will implement blockade measures, with multiple countries cooperating to ensure Iran cannot sell its oil. Affected vessels will refuel in the U.S. and depart without passing through the Strait of Hormuz, and the issue will ultimately be resolved. U.S. oil reserves have increased significantly due to the "Drill, baby, drill!" campaign, surpassing the combined total of Russia and Saudi Arabia.