<p>亚洲的石脑油现货活动依然活跃，二月份的需求成为焦点，尽管一些买家因衍生品需求有限而对进一步采购持谨慎态度。</p>
<p>二月份的购买兴趣很强烈，韩国的乐天化学被听说正在通过周二截止的招标寻求至少一批 25,000 公吨的货物，计划在上半年交付至丽水。</p>
<p>另一家韩国裂解装置运营商仍在考虑其二月份的采购，因运行率不明确。</p>
<p>目前，讨论的溢价在每公吨 1-5 美元之间，具体取决于到达港口和时间，一些交易员表示，与一周前的水平相比，保持稳定或略有下滑。</p>
<p>二月份上半月和三月份上半月的跨月价差保持在每吨 3.75 美元，前一个交易日由于西方供应担忧，价格压力明显。</p>
<p>炼油利润略微下降至每公吨约 77 美元。(NAF-SIN-CRK)</p>
<p>在汽油方面，贸易公司 Trafigura 的销售活动仍在进行中。交易数据显示，这家西方贸易巨头迄今已在窗口期内售出超过 150 万桶 92 号汽油，装船时间为 12 月 30 日至 1 月 29 日。</p>
<p>炼油利润进一步下滑，首次跌破每桶 10 美元，自 8 月底以来首次出现这种情况。(GL92-SIN-CRK)</p>
<p>库存</p>
<p>- 美国原油、汽油和馏分油库存在截至 12 月 19 日的一周内上升，因为炼油活动放缓且进口减少，美国能源信息署周一表示。</p>
<p>- 初步路透社调查显示，上周美国原油库存预计下降，而馏分油和汽油库存可能上升。</p>
<p>新闻</p>
<p>- Frontera Energy 的哥伦比亚子公司与美国石油巨头雪佛龙的一个子公司签署了一项价值高达 1.2 亿美元的预付款和商业协议，以在两年内供应原油，加拿大石油生产商周一表示。</p>
<p>- 世界最大石油出口国沙特阿拉伯预计将降低其二月份对亚洲买家的旗舰阿拉伯轻质原油价格，这是连续第三个月，因供应充足导致现货市场价格下跌，消息人士称。</p>
<p>- 从哈萨克斯坦输送石油的里海管道联盟表示，由于恶劣天气，周一暂停了黑海终端的石油出口。</p>
<p>- 由于政策制定者面临国内需求疲软和工厂利润下滑，以及与主要出口市场的贸易关系波动，中国的工厂活动在 12 月份可能连续第九个月收缩。</p>
<p>新加坡现金交易</p>
<p>- 两笔汽油交易，没有石脑油交易</p>
<p>价格</p>
<table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>现金</td>
<td>亚洲收盘</td>
<td>变动</td>
<td>前收盘</td>
<td>RIC</td>
</tr>
<tr>
<td>OSN 石脑油 CFR 日本 M1（$/mt）</td>
<td>541.75</td>
<td>4.00</td>
<td>537.75</td>
<td>(NAF-1H-TYO)</td>
</tr>
<tr>
<td>OSN 石脑油 CFR 日本 M2（$/mt）</td>
<td>538.00</td>
<td>4.00</td>
<td>534.00</td>
<td>(NAF-2H-TYO)</td>
</tr>
<tr>
<td>OSN 石脑油差价（$/mt）</td>
<td>3.75</td>
<td>0.00</td>
<td>3.75</td>
<td>(NAF-TYO-DIF)</td>
</tr>
<tr>
<td>石脑油净回报 FOB 新加坡（$/bbl）</td>
<td>58.19</td>
<td>0.44</td>
<td>57.75</td>
<td>(NAF-SIN)</td>
</tr>
<tr>
<td>石脑油 - 布伦特裂解（$/mt）</td>
<td>76.90</td>
<td>-1.47</td>
<td>78.38</td>
<td>(NAF-SIN-CRK)</td>
</tr>
<tr>
<td>97 号汽油（$/bbl）</td>
<td>75.36</td>
<td>0.38</td>
<td>74.98</td>
<td>(GL97-SIN)</td>
</tr>
<tr>
<td>95 号汽油（$/bbl）</td>
<td>73.76</td>
<td>0.36</td>
<td>73.40</td>
<td>(GL95-SIN)</td>
</tr>
<tr>
<td>92 号汽油（$/bbl）</td>
<td>71.70</td>
<td>0.25</td>
<td>71.45</td>
<td>(GL92-SIN)</td>
</tr>
<tr>
<td>汽油裂解（$/bbl）</td>
<td>9.72</td>
<td>-0.48</td>
<td>10.20</td>
<td>(GL92-SIN-CRK)</td>
</tr>
<tr>
<td>有关衍生品价格的列表，包括利润，请双击下面的 RIC。</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>布伦特 M1</td>
<td>(BRENTSGMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>石脑油 CFR 日本 M1</td>
<td>(NACFRJPSWMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>石脑油 CFR 日本 M1/M2</td>
<td>(NACFRJPSDMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>石脑油 CFR 日本 M2</td>
<td>(NACFRJPSWMc2)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>石脑油日本 - 新加坡净回报 M1</td>
<td>(NAPTC4SPDMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>石脑油日本 - 新加坡净回报 M2</td>
<td>(NAPTC4SPDMc2)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>石脑油 FOB 新加坡 M1</td>
<td>(NAFOBSGSWMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>石脑油 FOB 新加坡 M1/M2</td>
<td>(NAFOBSGSDMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>石脑油 FOB 新加坡 M2</td>
<td>(NAFOBSGSWMc2)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>石脑油裂解 M1</td>
<td>(NACFRJPCKMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>东西方石脑油 M1</td>
<td>(NAPJPEWMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>东西方石脑油 M2</td>
<td>(NAPJPEWMc2)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>NWE 石脑油 M1</td>
<td>(NAPCNWEAMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>NWE 石脑油 M1/M2</td>
<td>(NAPCNWEASMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>NWE 石脑油 M2</td>
<td>(NAPCNWEAMc2)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>NWE 石脑油 - 布伦特裂解 M1</td>
<td>(NAPCNWEACMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>NWE 石脑油 - 布伦特裂解 M2</td>
<td>(NAPCNWEACMc2)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>*Sing 指新加坡</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
</tbody>
</table>

雪佛龙

<p>亚洲的石脑油现货活动强劲，二月份的需求尤为突出，尽管由于衍生品需求有限，一些买家持谨慎态度。韩国乐天化学正在寻求一批 25,000 公吨的货物，计划在二月初交付。Trafigura 的汽油销售在 12 月底到 1 月期间超过了 150 万桶。由于炼油放缓，美国原油和汽油库存上升。Frontera Energy 与雪佛龙签署了一项价值 1.2 亿美元的原油供应协议。预计沙特阿拉伯将在供应充足的情况下下调二月份的阿拉伯轻质原油价格</p>

<p>Asia's naphtha spot activity remained upbeat, with February demand in focus, though some buyers were hesitant to make more purchases amid limited derivative demand.</p>
<div class="lb-trans"><p>亚洲的石脑油现货活动依然活跃，二月份的需求成为焦点，尽管一些买家因衍生品需求有限而对进一步采购持谨慎态度。</p>
</div><p>February buying interest was brisk, with South Korea's Lotte Chemical heard to be seeking at least one lot of 25,000 metric tons cargo for first-half delivery to Yeosu via a tender that closes on Tuesday.</p>
<div class="lb-trans"><p>二月份的购买兴趣很强烈，韩国的乐天化学被听说正在通过周二截止的招标寻求至少一批 25,000 公吨的货物，计划在上半年交付至丽水。</p>
</div><p>A second South Korean cracker operator was still mulling its February purchase, given a lack of clarity on run rates.</p>
<div class="lb-trans"><p>另一家韩国裂解装置运营商仍在考虑其二月份的采购，因运行率不明确。</p>
</div><p>For now, discussions were at premiums of $1-5 per metric ton, depending on arrival port and time, some traders said, stable to soft from a week-ago level.</p>
<div class="lb-trans"><p>目前，讨论的溢价在每公吨 1-5 美元之间，具体取决于到达港口和时间，一些交易员表示，与一周前的水平相比，保持稳定或略有下滑。</p>
</div><p>The H1 February and H1 March intermonth spreads held steady at $3.75 per ton, with front-month price pressure evident from the previous trading session amid rising Western supply concerns.</p>
<div class="lb-trans"><p>二月份上半月和三月份上半月的跨月价差保持在每吨 3.75 美元，前一个交易日由于西方供应担忧，价格压力明显。</p>
</div><p>Refining margins fell slightly to around $77 per metric ton. (NAF-SIN-CRK)</p>
<div class="lb-trans"><p>炼油利润略微下降至每公吨约 77 美元。(NAF-SIN-CRK)</p>
</div><p>For gasoline, selling activity from trading house Trafigura continued at the window. The Western trading major has so far sold more than 1.5 million barrels of octane-92 gasoline on the window for December 30 to January 29 loading, data from trading sources showed.</p>
<div class="lb-trans"><p>在汽油方面，贸易公司 Trafigura 的销售活动仍在进行中。交易数据显示，这家西方贸易巨头迄今已在窗口期内售出超过 150 万桶 92 号汽油，装船时间为 12 月 30 日至 1 月 29 日。</p>
</div><p>Refining margins eased further to fall below $10 a barrel for the first time since the end of August (GL92-SIN-CRK).</p>
<div class="lb-trans"><p>炼油利润进一步下滑，首次跌破每桶 10 美元，自 8 月底以来首次出现这种情况。(GL92-SIN-CRK)</p>
</div><p>INVENTORIES</p>
<div class="lb-trans"><p>库存</p>
</div><p>- U.S. crude, gasoline and distillate inventories rose in the week ended December 19 as refining activity slowed and imports declined, the Energy Information Administration said on Monday.</p>
<div class="lb-trans"><p>- 美国原油、汽油和馏分油库存在截至 12 月 19 日的一周内上升，因为炼油活动放缓且进口减少，美国能源信息署周一表示。</p>
</div><p>- U.S. crude oil stockpiles were expected to have fallen last week, while distillate and gasoline inventories likely rose, a preliminary Reuters poll showed on Monday.</p>
<div class="lb-trans"><p>- 初步路透社调查显示，上周美国原油库存预计下降，而馏分油和汽油库存可能上升。</p>
</div><p>NEWS</p>
<div class="lb-trans"><p>新闻</p>
</div><p>- Frontera Energy's Colombian unit has signed a prepayment and commercial agreement worth up to $120 million with a unit of U.S. oil major Chevron CVX.Nto supply crude oil over two years, the Canadian oil producer said on Monday.</p>
<div class="lb-trans"><p>- Frontera Energy 的哥伦比亚子公司与美国石油巨头雪佛龙的一个子公司签署了一项价值高达 1.2 亿美元的预付款和商业协议，以在两年内供应原油，加拿大石油生产商周一表示。</p>
</div><p>- Saudi Arabia, the world's biggest oil exporter, is expected to lower the February price for its flagship Arab Light crude for Asian buyers for a third month, mirroring declines in the spot market due to ample supplies, sources said.</p>
<div class="lb-trans"><p>- 世界最大石油出口国沙特阿拉伯预计将降低其二月份对亚洲买家的旗舰阿拉伯轻质原油价格，这是连续第三个月，因供应充足导致现货市场价格下跌，消息人士称。</p>
</div><p>- The Caspian Pipeline Consortium, which delivers oil from Kazakhstan, said it had suspended oil exports from the Black Sea's terminal on Monday due to bad weather.</p>
<div class="lb-trans"><p>- 从哈萨克斯坦输送石油的里海管道联盟表示，由于恶劣天气，周一暂停了黑海终端的石油出口。</p>
</div><p>- China's factory activity likely shrank for a ninth month in December, as policymakers grapple with lagging domestic demand and sliding factory profits along with volatile trade relations with key export markets.</p>
<div class="lb-trans"><p>- 由于政策制定者面临国内需求疲软和工厂利润下滑，以及与主要出口市场的贸易关系波动，中国的工厂活动在 12 月份可能连续第九个月收缩。</p>
</div><p>SINGAPORE CASH DEALS</p>
<div class="lb-trans"><p>新加坡现金交易</p>
</div><p>- Two gasoline deals, no naphtha deals</p>
<div class="lb-trans"><p>- 两笔汽油交易，没有石脑油交易</p>
</div><p>PRICES</p>
<div class="lb-trans"><p>价格</p>
</div><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>CASH</td>
<td>ASIA CLOSE</td>
<td>Change</td>
<td>Prev Close</td>
<td>RIC</td>
</tr>
<tr>
<td>OSN Naphtha CFR Japan M1 ($/mt)</td>
<td>541.75</td>
<td>4.00</td>
<td>537.75</td>
<td>(NAF-1H-TYO)</td>
</tr>
<tr>
<td>OSN Naphtha CFR Japan M2 ($/mt)</td>
<td>538.00</td>
<td>4.00</td>
<td>534.00</td>
<td>(NAF-2H-TYO)</td>
</tr>
<tr>
<td>OSN Naphtha Diff ($/mt)</td>
<td>3.75</td>
<td>0.00</td>
<td>3.75</td>
<td>(NAF-TYO-DIF)</td>
</tr>
<tr>
<td>Naphtha Netback FOB Sing ($/bbl)</td>
<td>58.19</td>
<td>0.44</td>
<td>57.75</td>
<td>(NAF-SIN)</td>
</tr>
<tr>
<td>Naphtha-Brent Crack ($/mt)</td>
<td>76.90</td>
<td>-1.47</td>
<td>78.38</td>
<td>(NAF-SIN-CRK)</td>
</tr>
<tr>
<td>Gasoline 97 ($/bbl)</td>
<td>75.36</td>
<td>0.38</td>
<td>74.98</td>
<td>(GL97-SIN)</td>
</tr>
<tr>
<td>Gasoline 95 ($/bbl)</td>
<td>73.76</td>
<td>0.36</td>
<td>73.40</td>
<td>(GL95-SIN)</td>
</tr>
<tr>
<td>Gasoline 92 ($/bbl)</td>
<td>71.70</td>
<td>0.25</td>
<td>71.45</td>
<td>(GL92-SIN)</td>
</tr>
<tr>
<td>Gasoline crack ($/bbl)</td>
<td>9.72</td>
<td>-0.48</td>
<td>10.20</td>
<td>(GL92-SIN-CRK)</td>
</tr>
<tr>
<td>For a list of derivatives prices, including margins, please double click the RICs below.</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Brent M1</td>
<td>(BRENTSGMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Naphtha CFR Japan M1</td>
<td>(NACFRJPSWMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Naphtha CFR Japan M1/M2</td>
<td>(NACFRJPSDMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Naphtha CFR Japan M2</td>
<td>(NACFRJPSWMc2)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Naphtha Japan-Sing Netback M1</td>
<td>(NAPTC4SPDMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Naphtha Japan-Sing Netback M2</td>
<td>(NAPTC4SPDMc2)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Naphtha FOB Sing M1</td>
<td>(NAFOBSGSWMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Naphtha FOB Sing M1/M2</td>
<td>(NAFOBSGSDMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Naphtha FOB Sing M2</td>
<td>(NAFOBSGSWMc2)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Naphtha Cracks M1</td>
<td>(NACFRJPCKMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>East-West Naphtha M1</td>
<td>(NAPJPEWMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>East-West Naphtha M2</td>
<td>(NAPJPEWMc2)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>NWE Naphtha M1</td>
<td>(NAPCNWEAMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>NWE Naphtha M1/M2</td>
<td>(NAPCNWEASMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>NWE Naphtha M2</td>
<td>(NAPCNWEAMc2)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Crack NWE Naphtha-Brent M1</td>
<td>(NAPCNWEACMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Crack NWE Naphtha-Brent M2</td>
<td>(NAPCNWEACMc2)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>*Sing refers to Singapore</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>现金</td>
<td>亚洲收盘</td>
<td>变动</td>
<td>前收盘</td>
<td>RIC</td>
</tr>
<tr>
<td>OSN 石脑油 CFR 日本 M1（$/mt）</td>
<td>541.75</td>
<td>4.00</td>
<td>537.75</td>
<td>(NAF-1H-TYO)</td>
</tr>
<tr>
<td>OSN 石脑油 CFR 日本 M2（$/mt）</td>
<td>538.00</td>
<td>4.00</td>
<td>534.00</td>
<td>(NAF-2H-TYO)</td>
</tr>
<tr>
<td>OSN 石脑油差价（$/mt）</td>
<td>3.75</td>
<td>0.00</td>
<td>3.75</td>
<td>(NAF-TYO-DIF)</td>
</tr>
<tr>
<td>石脑油净回报 FOB 新加坡（$/bbl）</td>
<td>58.19</td>
<td>0.44</td>
<td>57.75</td>
<td>(NAF-SIN)</td>
</tr>
<tr>
<td>石脑油 - 布伦特裂解（$/mt）</td>
<td>76.90</td>
<td>-1.47</td>
<td>78.38</td>
<td>(NAF-SIN-CRK)</td>
</tr>
<tr>
<td>97 号汽油（$/bbl）</td>
<td>75.36</td>
<td>0.38</td>
<td>74.98</td>
<td>(GL97-SIN)</td>
</tr>
<tr>
<td>95 号汽油（$/bbl）</td>
<td>73.76</td>
<td>0.36</td>
<td>73.40</td>
<td>(GL95-SIN)</td>
</tr>
<tr>
<td>92 号汽油（$/bbl）</td>
<td>71.70</td>
<td>0.25</td>
<td>71.45</td>
<td>(GL92-SIN)</td>
</tr>
<tr>
<td>汽油裂解（$/bbl）</td>
<td>9.72</td>
<td>-0.48</td>
<td>10.20</td>
<td>(GL92-SIN-CRK)</td>
</tr>
<tr>
<td>有关衍生品价格的列表，包括利润，请双击下面的 RIC。</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>布伦特 M1</td>
<td>(BRENTSGMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>石脑油 CFR 日本 M1</td>
<td>(NACFRJPSWMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>石脑油 CFR 日本 M1/M2</td>
<td>(NACFRJPSDMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>石脑油 CFR 日本 M2</td>
<td>(NACFRJPSWMc2)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>石脑油日本 - 新加坡净回报 M1</td>
<td>(NAPTC4SPDMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>石脑油日本 - 新加坡净回报 M2</td>
<td>(NAPTC4SPDMc2)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>石脑油 FOB 新加坡 M1</td>
<td>(NAFOBSGSWMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>石脑油 FOB 新加坡 M1/M2</td>
<td>(NAFOBSGSDMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>石脑油 FOB 新加坡 M2</td>
<td>(NAFOBSGSWMc2)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>石脑油裂解 M1</td>
<td>(NACFRJPCKMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>东西方石脑油 M1</td>
<td>(NAPJPEWMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>东西方石脑油 M2</td>
<td>(NAPJPEWMc2)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>NWE 石脑油 M1</td>
<td>(NAPCNWEAMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>NWE 石脑油 M1/M2</td>
<td>(NAPCNWEASMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>NWE 石脑油 M2</td>
<td>(NAPCNWEAMc2)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>NWE 石脑油 - 布伦特裂解 M1</td>
<td>(NAPCNWEACMc1)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>NWE 石脑油 - 布伦特裂解 M2</td>
<td>(NAPCNWEACMc2)</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>*Sing 指新加坡</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
</tbody>
</table>
</div>

2 月份石脑油购买活跃；汽油裂解价差降至四个月来的低点