According to CoinMeta, recently, the crude oil market has continued to shed its geopolitical risk premium. The resumption of Middle Eastern crude oil exports and the decline in physical prices have also put further pressure on crude oil futures markets. Wang Yilu, a senior researcher in energy and chemicals at Donghai Futures Research Institute, stated that with the results of the U.S. mid-term elections announced, Schumer, who is set to become the leader of the majority party in the U.S. Senate, has publicly expressed his intention to fully push for an end to the current U.S.-Iranian war, which has raised market expectations for a rapid peace agreement between the two countries in the short term. The geopolitical risk premium of around $20 per barrel for crude oil is rapidly dissipating. Wang Yilu also mentioned the need to be vigilant about potential tail risks arising from changes in the U.S.-Iran situation, as Iran's crude oil exports have been significantly curbed recently, and attention should be paid to its diplomatic statements. Sui Xiaoying, the chief petroleum and chemical researcher at Founder Mid-Term Futures Trading Consulting Department, believes that although oil prices have plummeted, it is currently impossible to determine that the trend in energy prices has reversed. The expectation of a easing in geopolitical tensions may be disproven, and with oil inventories at low levels, the prospect of restocking will provide support for oil prices at the bottom. Overall, there is limited room for further declines in oil prices.