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[Oil Prices Rise for Third Consecutive Day, Nearing Four-Week High; Straits Shipping Nearly Halted; Trump Threatens to Expand Strike Scope] ⑴ International oil prices rose for the third consecutive trading day on Wednesday, both nearing their strongest levels in about four weeks, with a cumulative increase of nearly 10% in the first two days of the week. ⑵ Tensions between the US and Iran continue to escalate. Early Wednesday morning, the US military launched additional strikes on Iranian military assets, aimed at weakening Iran's ability to threaten merchant shipping in the Strait of Hormuz. Washington reinstated its naval blockade against Iranian vessels on Tuesday evening. ⑶ In a media interview, Trump warned that if Iran does not return to diplomatic negotiations, he may expand strikes to infrastructure such as power grids and major bridges within the next seven days, but explicitly stated that oil and energy facilities are not among the immediate targets. ⑷ The previously proposed 20% toll for transit cargo was shelved due to strong opposition from Gulf allies. The White House is now seeking direct financial commitments from regional partners to fill the expected revenue gap. (5) The Strait of Hormuz carries approximately 20% of global crude oil and liquefied natural gas shipments. Shipping activity is currently almost at a standstill. Meanwhile, the Houthi rebels in Yemen launched missile and drone attacks into Saudi Arabia, the most serious attack since the ceasefire in 2022. (6) API data shows that US crude oil inventories fell by only about 600,000 barrels last week, far below the market expectation of a 2.7 million barrel decrease. However, geopolitical risk premiums continue to dominate short-term pricing logic. With the ceasefire agreement broken and the prospects for a diplomatic solution dimmed, the market continues to price in further deterioration of the situation.