GlobalX S&P crude oil (03097) rose more than 6% in midday trading, with a 5.44% increase at the time of writing, reaching HK$8.625 with a trading volume of HK$10.1739 million. On the news front, Trump announced an extension of the ceasefire between the US and Iran, but did not set a final deadline. On the 23rd, the WTI crude oil futures main contract rose by more than 4% at one point, before falling back slightly. Public information shows that GlobalX S&P crude oil is a product based on futures, directly investing in WTI futures contracts. The fund aims to provide investment returns closely related to the performance of the S&P Goldman Sachs Crude Oil Enhanced Excess Return Index (Index), after deducting expenses and fees. Barclays analysts said in a report that the disruption of oil and natural gas transportation in the Strait of Hormuz has lasted for more than 50 days, blocking more than 600 million barrels of oil transportation, causing a daily disruption of over 10 million barrels of oil supply. The market has not fully realized the actual impact of the current supply disruptions yet. Citigroup stated that if navigation in the Strait of Hormuz remains blocked for another month, oil prices could rise to $110 per barrel.