GlobalX S&P Crude Oil (03097) rose more than 3%, as of the time of writing, up 3.28% to 8.175 Hong Kong dollars, with a trading volume of 4.8786 million Hong Kong dollars. On the news front, according to Xinhua News Agency, Iran officially declined to attend the second round of US-Iran talks in Islamabad, the capital of Pakistan, scheduled for April 22 on the evening of April 21. The report stated that Iran believes that the United States is obstructing any substantive agreement and that participating in negotiations would be a waste of time. Iran also announced this news through Pakistan, stating that in order to fully protect the rights of the Iranian people, the Iranian delegation will not go to Pakistan on April 22. According to the Iranian Students News Agency, a member of the Iranian parliament's presidium, Nadri, stated on that day, "We will not hold a second round of negotiations until the issue of the maritime blockade is resolved." Zhengxin Futures pointed out that due to the failure of the second round of US-Iran talks and the postponement of a ceasefire by both sides, the continued blockade of the Strait of Hormuz, as of April 21, oil prices rebounded slightly. According to the latest analysis by JP Morgan, in the scenario of the US Navy implementing a "comprehensive export blockade," Iran will be forced to initiate production cuts within about 15 days and complete a full shutdown around the 30th day - which means that exports of approximately 1.9 million barrels/day will cease completely around May 20. This timetable is rapidly becoming the core anchor of global energy market pricing.