Market Close: Domestic Futures Main Contracts Show Mixed Performance, Crude Oil Up Over 5%

MaticHoleFiller · 2026-03-17T13:11:51+00:00

As of the close on March 13, China's futures market showed mixed performances, with crude oil surging over 5%, while shipping routes to Europe decline by 7%. The International Energy Agency report indicates that the Middle East situation has created serious supply concerns in the global oil market, with estimated crude oil supply shortages of approximately 8 million barrels in March.

MaticHoleFiller

2026-03-17 13:11:51

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On March 13, Beijing time, the main domestic futures contracts closed with mixed gains and losses. On the upside, crude oil rose over 5%, rapeseed meal increased over 4%, asphalt gained over 3%, aluminum oxide, caustic soda, soybean meal, and iron ore rose over 2%. On the downside, container shipping on the Europe route dropped 7%, Shanghai silver and tin fell about 4%, platinum and pure benzene declined over 3%, styrene, No. 20 rubber, lithium carbonate, rubber, palladium, and polysilicon dropped over 2%.

In terms of news, the International Energy Agency stated in its latest monthly oil market report on the 12th that due to ongoing tensions in the Middle East, the global oil market is facing the most severe supply disruption in history. If shipping cannot be restored quickly, the global crude oil supply gap will widen further. The report pointed out that the daily volume of crude oil and petroleum product transportation through the Strait of Hormuz has plummeted from about 20 million barrels before the U.S.-Israel military strikes on Iran to a “very low level” now. Due to limited alternative capacity for rerouting through key waterways and near-saturation of storage facilities, Gulf countries have cut their daily total crude oil production by at least 10 million barrels. The report estimates that global daily crude oil supply will sharply decrease by about 8 million barrels in March.

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