F Samsung Crude Oil Futures (03175) climbed more than 2% during the late trading session. As of the latest update, the ETF was up 2.01%, trading at HK$10.65 with a turnover of HK$113 million. On the news front, both WTI and Brent crude oil prices advanced on Tuesday, with WTI crude surpassing $99 per barrel. Goldman Sachs Group has once again raised its oil price forecast, influenced by a sharp decline in inventories due to prolonged shipping disruptions in the Strait of Hormuz. Key factors behind Goldman Sachs' revised prediction include reduced production in the Persian Gulf region, delays in the normalization of exports through the Strait of Hormuz, and a slow recovery in production capacity. Analysts from JPMorgan added that even with aggressive contributions from inventories, the global oil supply-demand gap remains at approximately 2 million barrels per day that needs to be filled. They indicated that it is only a matter of time before European and American markets are forced to adjust, implying that oil prices need to rise further, potentially significantly, to eventually force a market clearing.