3月25日，早盘油气板块大面积低开，通源石油（300164）（300164.SZ）、科力股份（920088.BJ）跌超10%，洲际油气（600759）（600759.SH）、首华燃气（300483）（300483.SZ）、山东墨龙（HK0568）（002490.SZ）、新天然气（603393）（603393.SH）、中曼石油（603619）（603619.SH）、中国石油（601857）（601857.SH）、中国海油（600938）（600938.SH）跌幅靠前。

On March 25th, in the early trading session, the oil and gas sector witnessed a widespread opening decline. Companies such as Tongyuan Oil (300164) (300164.SZ), Ke Li Co., Ltd. (920088.BJ), Intercontinental Oil (600759) (600759.SH), Shouhua Gas (300483) (300483.SZ), Shandong Mo Long (HK0568) (002490.SZ), Xin Natural Gas (603393) (603393.SH), Zhongman Oil (603619) (603619.SH), and China National Petroleum (601857) (601857.SH) experienced significant declines.

与此同时，煤炭开采加工（881105）板块大跌，郑州煤电（600121）（600121.SH）、陕西黑猫（601015）（601015.SH）、安泰集团（600408）（600408.SH）均跌超7%。

Meanwhile, the coal mining and processing sector (881105) witnessed a significant decline. Companies such as Zhengzhou Coal Power (600121) (600121.SH), Shaanxi Black Cat (601015) (601015.SH), and An Tai Group (600408) (600408.SH) all dropped by more than 7%.

消息面上，当日，原油开盘大幅跳水，截至发稿，WTI原油跌超5%，布伦特原油跌超6%报98.01美元/桶。国内商品期货开盘也多数下跌，液化气跌超11%，LU燃油跌超9%，燃料油跌超8%，塑料、聚丙烯、原油跌超7%，集运欧线跌超6%。

On the news front, on that day, crude oil prices plunged sharply at the opening. As of the time of this report, WTI crude oil dropped by more than 5%, and Brent crude oil dropped by more than 6%, closing at $98.01 per barrel. Domestic commodity futures also mostly declined at the opening. Liquefied gas dropped by over 11%, LU fuel dropped by over 9%, fuel oil dropped by over 8%, plastic, polypropylene, and crude oil dropped by over 7%, and ocean shipping routes to Europe dropped by over 6%.

消息面上，据央视新闻报道，美国政府通过巴基斯坦向伊朗提出一份包含15项条件的结束冲突方案，涵盖核计划、导弹能力及地区问题。

On the news front, according to CCTV News, the US government, through Pakistan, proposed a conflict-ending plan to Iran, consisting of 15 conditions, covering nuclear programs, missile capabilities, and regional issues.

据称，美方主要要求包括：伊朗解除现有核能力、承诺不发展核武器、禁止在本土进行铀浓缩、移交约60%高丰度浓缩铀库存、拆除纳坦兹、伊斯法罕及福尔多等核设施，并允许国际原子能机构（IAEA）全面核查等。同时，美方还要求伊朗停止支持地区盟友武装，禁止对其提供资金、指挥及武器支持，并限制弹道导弹的规模与射程，仅用于防御用途，同时确保霍尔木兹海峡保持开放。作为交换条件，伊朗可能获得全面解除国际制裁、美国支持其发展民用核项目，以及取消“快速恢复制裁”机制。

It is claimed that the main demands of the US include: Iran must dismantle its existing nuclear capabilities, commit to not developing nuclear weapons, prohibit uranium enrichment on its own territory, hand over approximately 60% of its high-enriched uranium stockpile, dismantle nuclear facilities such as Natanz, Isfahan and Fordo, and allow the International Atomic Energy Agency (IAEA) to conduct comprehensive inspections. At the same time, the US also demands that Iran stop supporting armed forces of regional allies, prohibit providing funds, command and weapons support to them, limit the scale and range of ballistic missiles to defensive purposes only, and ensure that the Strait of Hormuz remains open. In exchange, Iran may receive the complete lifting of international sanctions, US support for its development of civilian nuclear projects, and the cancellation of the "rapid resumption of sanctions" mechanism.

据了解，美方正考虑推动为期一个月的停火，以便就上述条款展开进一步谈判。该方案由包括贾里德·库什纳和史蒂夫·威特科夫在内的特朗普顾问推动。

It is understood that the US is considering promoting a one-month ceasefire in order to conduct further negotiations on the above-mentioned terms. This plan was pushed forward by Trump's advisors including Jared Kushner and Steve Witkov.

美国总统特朗普在白宫表示，美方在对伊行动中已“取得胜利”，伊朗已经“完全被打败了”，并称当前局势并非“势均力敌的冲突”，而是伊朗方面“在军事上已被彻底削弱”。

US President Trump stated at the White House that the US has "won" in its actions against Iran, and that Iran has been "completely defeated". He also said that the current situation is not a "balanced conflict", but rather that the Iranian side has been "completely weakened militarily".