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[Caixin Futures: Divergent Trends in the Energy and Chemical Sector] ⑴ The Trump administration recently canceled the summit in Budapest and imposed sanctions on Russian oil companies, while the EU formally passed its 19th round of sanctions against Russia. ⑵ This may lead to countries like India reducing their purchases of Russian oil. ⑶ The macro environment is bullish, but considering that OPEC+ may implement a slight production increase at its meeting this Sunday, sentiment has shifted towards neutral to bullish. ⑷ The US and EU announced a new round of sanctions against Russia, with the US sanctions against Russia's two largest oil companies triggering a strong reaction. ⑸ Expectations of reduced supply of high-sulfur fuel oil remain, and prices have rebounded following crude oil. ⑹ OPEC+ may implement a slight production increase at its meeting this Sunday, but with positive macroeconomic expectations, the downside for fuel oil may be limited. ⑺ Market sentiment in Shahe has improved recently, with inventories declining and some downstream companies restocking. ⑻ Some manufacturers are selling well, and market transactions are acceptable; glass supply is gradually turning positive year-on-year. ⑼ However, demand is still declining significantly year-on-year, facing considerable pressure, but short-term gains are influenced by easing trade tensions and stronger commodity sentiment. (10) The market showed resilience, and the downside potential for glass futures may be limited. (11) A slightly bullish outlook is recommended, as the domestic soda ash market remained stable with prices fluctuating within a narrow range. (12) Total inventory of domestic soda ash producers was 1.702 million tons this week, an increase of 9,600 tons from Monday. (13) The soda ash operating rate remained stable at 87.44%, but production from the Alashan Phase II plant may be delayed. (14) Short-term coal costs have constrained the decline, and a slightly bullish outlook is recommended. (15) Prices of liquid soda ash and liquid chlorine in Shandong rose, with chlor-alkali profits reaching 627 yuan/ton. (16) Supply is expected to increase next week, and downstream purchasing prices are expected to decline further. (17) Supply remains ample, while downstream deliveries have increased slightly. (18) However, there is no peak season restocking demand for non-aluminum products, inventories are high, and there are no signs of improvement in fundamentals. 18. The market is expected to fluctuate with a slightly weak bias. The spot price in Taicang fell by 33 yuan to 2157 yuan, and the price in the northern Inner Mongolia region fell by 15 yuan to 2005 yuan. 20. The main methanol contract broke down again, significantly dragging down the spot trading atmosphere.