The crude oil narrative is chaotic, and the underlying logic for the related stocks varies significantly: stocks like Petrobras, BP, and APA are positively correlated with oil prices, but with a strong US dollar and weak demand expectations, there's clear upward pressure on oil prices. Cheniere Energy follows an LNG export route, focusing on natural gas prices and arbitrage opportunities between Asia and Europe, which is a completely different logic from crude oil. Frontline is in the freight rate business, and geopolitical disruptions that trigger rerouting needs can actually be a catalyst; a spike in the VIX might be positive feedback for it～