<p>新加坡，10 月 15 日（路透社）- 尽管市场结构坚挺，但亚洲汽油现货交易活动有限，因交易情绪在前景不明的情况下略显谨慎。</p>
<p>汽油前月市场仍受到强劲需求基本面的支撑，尽管一些交易者对供应方面变得谨慎。</p>
<p>预计下个月下半月供应将逐渐增加，因为一些炼油厂在检修后将其汽油生产装置重新投入使用，几位贸易消息人士表示。</p>
<p>市场不太可能立即崩溃，但市场结构应会逐步放松，一位消息人士补充道。</p>
<p>汽油的炼油利润（GL92-SIN-CRK）在交易时段结束时下跌 10 美分，约为每桶 13.2 美元。</p>
<p>在招标方面，台湾的福尔摩沙石化公司（FPCC）今天下午关闭了一项招标，出售两批各 25 万桶的货物，装船日期为 11 月 16 日至 20 日和 11 月 20 日至 24 日。</p>
<p>在交易窗口，石脑油现货活动同样稀少，炼油利润（NAF-SIN-CRK）在能源价格走强的情况下下滑至每吨 87 美元。</p>
<p>尽管交易者预计 12 月的交易仍在进行中，但他们预计交易价格将与上个月几乎持平。</p>
<h3>新闻</h3>
<ul>
<li>超大型油轮运费本周飙升，并预计将因美中之间港口费用的互相提高以及对美国制裁中国主要原油终端的担忧而保持高位。</li>
</ul>
<ul>
<li>据贸易消息人士和航运数据，交易公司在美国周五对中国东部一个进口终端实施制裁后，已将至少五艘原油油轮从该主要港口转移。</li>
</ul>
<ul>
<li>法国石油巨头道达尔能源（TotalEnergies）预计将在周三报告第三季度业绩增长，因上游生产增加和炼油利润改善抵消了油价下跌和液化天然气产量下降的影响。</li>
</ul>
<ul>
<li>周三油价下跌，延续了前一交易日的跌势，因投资者权衡国际能源署对 2026 年供应过剩的警告以及可能抑制需求的美中贸易紧张局势。（O/R）</li>
</ul>
<h3>库存</h3>
<ul>
<li>根据路透社周二的初步调查，美国原油库存预计上周有所增加，而汽油和馏分油库存可能下降。（EIA/S）</li>
</ul>
<h3>新加坡现金交易（O/AS）</h3>
<ul>
<li>没有汽油或石脑油的交易</li>
</ul>
<h3>价格</h3>
<p>现金亚洲收盘 变动 前收盘 RIC</p>
<p>OSN 石脑油 CFR 日本 M1 555.75 -4.00 559.75 (NAF-1H-TYO)</p>
<p>（$/吨）</p>
<p>OSN 石脑油 CFR 日本 M2 547.25 -3.25 550.50 (NAF-2H-TYO)</p>
<p>（$/吨）</p>
<p>OSN 石脑油差价（$/吨）8.50 -0.75 9.25 (NAF-TYO-DIF)</p>
<p>石脑油离岸净回报 新加坡 59.75 -0.44 60.19 (NAF-SIN)</p>
<p>（$/桶）</p>
<p>石脑油 - 布伦特裂解（$/吨）87.53 -5.65 93.18 (NAF-SIN-CRK)</p>
<p>汽油 97（$/桶）75.65 -3.75 79.40 (GL97-SIN)</p>
<p>汽油 95（$/桶）75.65 -2.59 78.24 (GL95-SIN)</p>
<p>汽油 92（$/桶）75.65 0.15 75.50 (GL92-SIN)</p>
<p>汽油裂解（$/桶）13.22 -0.07 13.29 (GL92-SIN-CRK)</p>
<p>有关衍生品价格的列表，包括</p>
<p>利润，请双击下面的 RIC。</p>
<p>布伦特 M1 (BRENTSGMc1)</p>
<p>石脑油 CFR 日本 M1 (NACFRJPSWMc1)</p>
<p>石脑油 CFR 日本 M1/M2 (NACFRJPSDMc1)</p>
<p>石脑油 CFR 日本 M2 (NACFRJPSWMc2)</p>
<p>石脑油 日本 - 新加坡净回报 M1 (NAPTC4SPDMc1)</p>
<p>石脑油 日本 - 新加坡净回报 M2 (NAPTC4SPDMc2)</p>
<p>石脑油 离岸 新加坡 M1 (NAFOBSGSWMc1)</p>
<p>石脑油 离岸 新加坡 M1/M2 (NAFOBSGSDMc1)</p>
<p>石脑油 离岸 新加坡 M2 (NAFOBSGSWMc2)</p>
<p>石脑油 裂解 M1 (NACFRJPCKMc1)</p>
<p>东西石脑油 M1 (NAPJPEWMc1)</p>
<p>东西石脑油 M2 (NAPJPEWMc2)</p>
<p>NWE 石脑油 M1 (NAPCNWEAMc1)</p>
<p>NWE 石脑油 M1/M2 (NAPCNWEASMc1)</p>
<p>NWE 石脑油 M2 (NAPCNWEAMc2)</p>
<p>裂解 NWE 石脑油 - 布伦特 M1 (NAPCNWEACMc1)</p>
<p>裂解 NWE 石脑油 - 布伦特 M2 (NAPCNWEACMc2)</p>
<p>* 新加坡指的是新加坡</p>

<p>亚洲汽油现货活动仍然有限，尽管需求强劲，但由于供应前景不明，交易情绪谨慎。汽油的炼油利润降至每桶 13.2 美元。石脑油交易也很清淡，利润滑落至每吨 87 美元。美中紧张关系影响了原油油轮的运输，而道达尔预计第三季度业绩将上升。美国原油库存预计将上升，而汽油库存可能下降。总体来看，随着炼油厂恢复生产，市场预计将逐渐缓和</p>

<p>SINGAPORE, Oct 15 (Reuters) - Asia gasoline physical spot activity on the trading window was limited, despite a firm market structure, as trading sentiment turned slightly cautious amid cloudy outlook.</p>
<div class="lb-trans"><p>新加坡，10 月 15 日（路透社）- 尽管市场结构坚挺，但亚洲汽油现货交易活动有限，因交易情绪在前景不明的情况下略显谨慎。</p>
</div><p>Gasoline front-month markets were still supported by firm demand fundamentals, though some traders turned cautious on the supply front.</p>
<div class="lb-trans"><p>汽油前月市场仍受到强劲需求基本面的支撑，尽管一些交易者对供应方面变得谨慎。</p>
</div><p>Rising supply availability is expected from second half of next month as some refiners bring their gasoline producing units back online after overhauls, several trade sources say.</p>
<div class="lb-trans"><p>预计下个月下半月供应将逐渐增加，因为一些炼油厂在检修后将其汽油生产装置重新投入使用，几位贸易消息人士表示。</p>
</div><p>The market is unlikely to crash immediately but the market structure should starting easing bit by bit, one of the sources added.</p>
<div class="lb-trans"><p>市场不太可能立即崩溃，但市场结构应会逐步放松，一位消息人士补充道。</p>
</div><p>Refining margins (GL92-SIN-CRK) for the motor fuel closed the trading session 10 cents down to around $13.2 a barrel.</p>
<div class="lb-trans"><p>汽油的炼油利润（GL92-SIN-CRK）在交易时段结束时下跌 10 美分，约为每桶 13.2 美元。</p>
</div><p>On tenders, Taiwan’s Formosa Petrochemical Corp (FPCC) closed a tender this afternoon to sell two 250,000 barrel cargoes loading November 16-20 and November 20-24.</p>
<div class="lb-trans"><p>在招标方面，台湾的福尔摩沙石化公司（FPCC）今天下午关闭了一项招标，出售两批各 25 万桶的货物，装船日期为 11 月 16 日至 20 日和 11 月 20 日至 24 日。</p>
</div><p>Naphtha spot activity was equally thin on the trading window, with refining margins (NAF-SIN-CRK) slipping to $87 per ton amid firmer energy prices.</p>
<div class="lb-trans"><p>在交易窗口，石脑油现货活动同样稀少，炼油利润（NAF-SIN-CRK）在能源价格走强的情况下下滑至每吨 87 美元。</p>
</div><p>Discussions for December parcels were still underway, though traders are expecting deals to be done at almost similar levels from last month.</p>
<div class="lb-trans"><p>尽管交易者预计 12 月的交易仍在进行中，但他们预计交易价格将与上个月几乎持平。</p>
</div><h3>NEWS</h3>
<div class="lb-trans"><h3>新闻</h3>
</div><ul>
<li>Supertanker freight rates surged this week and are set to stay elevated on U.S.-China tit-for-tat hikes in port fees and concerns about the fallout from U.S. sanctions on a major Chinese crude oil terminal.</li>
</ul>
<div class="lb-trans"><ul>
<li>超大型油轮运费本周飙升，并预计将因美中之间港口费用的互相提高以及对美国制裁中国主要原油终端的担忧而保持高位。</li>
</ul>
</div><ul>
<li>Trading firms have diverted at least five more crude oil tankers from a major port in eastern China after the U.S. imposed sanctions on an import terminal there on Friday, according to trading sources and shipping data.</li>
</ul>
<div class="lb-trans"><ul>
<li>据贸易消息人士和航运数据，交易公司在美国周五对中国东部一个进口终端实施制裁后，已将至少五艘原油油轮从该主要港口转移。</li>
</ul>
</div><ul>
<li>French oil major TotalEnergies expects to report an increase in third-quarter results, it said on Wednesday, as higher upstream production and improving margins for refining crude offset lower oil prices and liquefied natural gas output.</li>
</ul>
<div class="lb-trans"><ul>
<li>法国石油巨头道达尔能源（TotalEnergies）预计将在周三报告第三季度业绩增长，因上游生产增加和炼油利润改善抵消了油价下跌和液化天然气产量下降的影响。</li>
</ul>
</div><ul>
<li>Oil prices fell on Wednesday, extending losses from the previous session, as investors weighed the International Energy Agency’s warning of a supply surplus in 2026 and U.S.-China trade tensions that could curtail demand. (O/R)</li>
</ul>
<div class="lb-trans"><ul>
<li>周三油价下跌，延续了前一交易日的跌势，因投资者权衡国际能源署对 2026 年供应过剩的警告以及可能抑制需求的美中贸易紧张局势。（O/R）</li>
</ul>
</div><h3>INVENTORIES</h3>
<div class="lb-trans"><h3>库存</h3>
</div><ul>
<li>U.S. crude oil stockpiles were expected to have risen last week, while gasoline and distillate inventories likely fell, a preliminary Reuters poll showed on Tuesday. (EIA/S)</li>
</ul>
<div class="lb-trans"><ul>
<li>根据路透社周二的初步调查，美国原油库存预计上周有所增加，而汽油和馏分油库存可能下降。（EIA/S）</li>
</ul>
</div><h3>SINGAPORE CASH DEALS (O/AS)</h3>
<div class="lb-trans"><h3>新加坡现金交易（O/AS）</h3>
</div><ul>
<li>No deals for gasoline or naphtha</li>
</ul>
<div class="lb-trans"><ul>
<li>没有汽油或石脑油的交易</li>
</ul>
</div><h3>PRICES</h3>
<div class="lb-trans"><h3>价格</h3>
</div><p>CASH ASIA CLOSE Change Prev Close RIC</p>
<div class="lb-trans"><p>现金亚洲收盘 变动 前收盘 RIC</p>
</div><p>OSN Naphtha CFR Japan M1 555.75 -4.00 559.75 (NAF-1H-TYO)</p>
<div class="lb-trans"><p>OSN 石脑油 CFR 日本 M1 555.75 -4.00 559.75 (NAF-1H-TYO)</p>
</div><p>($/mt)</p>
<div class="lb-trans"><p>（$/吨）</p>
</div><p>OSN Naphtha CFR Japan M2 547.25 -3.25 550.50 (NAF-2H-TYO)</p>
<div class="lb-trans"><p>OSN 石脑油 CFR 日本 M2 547.25 -3.25 550.50 (NAF-2H-TYO)</p>
</div><p>($/mt)</p>
<div class="lb-trans"><p>（$/吨）</p>
</div><p>OSN Naphtha Diff ($/mt) 8.50 -0.75 9.25 (NAF-TYO-DIF)</p>
<div class="lb-trans"><p>OSN 石脑油差价（$/吨）8.50 -0.75 9.25 (NAF-TYO-DIF)</p>
</div><p>Naphtha Netback FOB Sing 59.75 -0.44 60.19 (NAF-SIN)</p>
<div class="lb-trans"><p>石脑油离岸净回报 新加坡 59.75 -0.44 60.19 (NAF-SIN)</p>
</div><p>($/bbl)</p>
<div class="lb-trans"><p>（$/桶）</p>
</div><p>Naphtha-Brent Crack ($/mt) 87.53 -5.65 93.18 (NAF-SIN-CRK)</p>
<div class="lb-trans"><p>石脑油 - 布伦特裂解（$/吨）87.53 -5.65 93.18 (NAF-SIN-CRK)</p>
</div><p>Gasoline 97 ($/bbl) 75.65 -3.75 79.40 (GL97-SIN)</p>
<div class="lb-trans"><p>汽油 97（$/桶）75.65 -3.75 79.40 (GL97-SIN)</p>
</div><p>Gasoline 95 ($/bbl) 75.65 -2.59 78.24 (GL95-SIN)</p>
<div class="lb-trans"><p>汽油 95（$/桶）75.65 -2.59 78.24 (GL95-SIN)</p>
</div><p>Gasoline 92 ($/bbl) 75.65 0.15 75.50 (GL92-SIN)</p>
<div class="lb-trans"><p>汽油 92（$/桶）75.65 0.15 75.50 (GL92-SIN)</p>
</div><p>Gasoline crack ($/bbl) 13.22 -0.07 13.29 (GL92-SIN-CRK)</p>
<div class="lb-trans"><p>汽油裂解（$/桶）13.22 -0.07 13.29 (GL92-SIN-CRK)</p>
</div><p>For a list of derivatives prices, including</p>
<div class="lb-trans"><p>有关衍生品价格的列表，包括</p>
</div><p>margins, please double click the RICs below.</p>
<div class="lb-trans"><p>利润，请双击下面的 RIC。</p>
</div><p>Brent M1 (BRENTSGMc1)</p>
<div class="lb-trans"><p>布伦特 M1 (BRENTSGMc1)</p>
</div><p>Naphtha CFR Japan M1 (NACFRJPSWMc1)</p>
<div class="lb-trans"><p>石脑油 CFR 日本 M1 (NACFRJPSWMc1)</p>
</div><p>Naphtha CFR Japan M1/M2 (NACFRJPSDMc1)</p>
<div class="lb-trans"><p>石脑油 CFR 日本 M1/M2 (NACFRJPSDMc1)</p>
</div><p>Naphtha CFR Japan M2 (NACFRJPSWMc2)</p>
<div class="lb-trans"><p>石脑油 CFR 日本 M2 (NACFRJPSWMc2)</p>
</div><p>Naphtha Japan-Sing Netback M1 (NAPTC4SPDMc1)</p>
<div class="lb-trans"><p>石脑油 日本 - 新加坡净回报 M1 (NAPTC4SPDMc1)</p>
</div><p>Naphtha Japan-Sing Netback M2 (NAPTC4SPDMc2)</p>
<div class="lb-trans"><p>石脑油 日本 - 新加坡净回报 M2 (NAPTC4SPDMc2)</p>
</div><p>Naphtha FOB Sing M1 (NAFOBSGSWMc1)</p>
<div class="lb-trans"><p>石脑油 离岸 新加坡 M1 (NAFOBSGSWMc1)</p>
</div><p>Naphtha FOB Sing M1/M2 (NAFOBSGSDMc1)</p>
<div class="lb-trans"><p>石脑油 离岸 新加坡 M1/M2 (NAFOBSGSDMc1)</p>
</div><p>Naphtha FOB Sing M2 (NAFOBSGSWMc2)</p>
<div class="lb-trans"><p>石脑油 离岸 新加坡 M2 (NAFOBSGSWMc2)</p>
</div><p>Naphtha Cracks M1 (NACFRJPCKMc1)</p>
<div class="lb-trans"><p>石脑油 裂解 M1 (NACFRJPCKMc1)</p>
</div><p>East-West Naphtha M1 (NAPJPEWMc1)</p>
<div class="lb-trans"><p>东西石脑油 M1 (NAPJPEWMc1)</p>
</div><p>East-West Naphtha M2 (NAPJPEWMc2)</p>
<div class="lb-trans"><p>东西石脑油 M2 (NAPJPEWMc2)</p>
</div><p>NWE Naphtha M1 (NAPCNWEAMc1)</p>
<div class="lb-trans"><p>NWE 石脑油 M1 (NAPCNWEAMc1)</p>
</div><p>NWE Naphtha M1/M2 (NAPCNWEASMc1)</p>
<div class="lb-trans"><p>NWE 石脑油 M1/M2 (NAPCNWEASMc1)</p>
</div><p>NWE Naphtha M2 (NAPCNWEAMc2)</p>
<div class="lb-trans"><p>NWE 石脑油 M2 (NAPCNWEAMc2)</p>
</div><p>Crack NWE Naphtha-Brent M1 (NAPCNWEACMc1)</p>
<div class="lb-trans"><p>裂解 NWE 石脑油 - 布伦特 M1 (NAPCNWEACMc1)</p>
</div><p>Crack NWE Naphtha-Brent M2 (NAPCNWEACMc2)</p>
<div class="lb-trans"><p>裂解 NWE 石脑油 - 布伦特 M2 (NAPCNWEACMc2)</p>
</div><p>*Sing refers to Singapore</p>
<div class="lb-trans"><p>* 新加坡指的是新加坡</p>
</div>

亚洲石脑油/汽油市场中，由于窗口活动减少，汽油裂解价差变化不大