<p>中东原油基准在周二上涨，Murban 原油保持在两个月来的最高水平，得益于亚洲买家的强劲需求。</p>
<p>阿曼和迪拜上涨，而后者仍然处于负值。</p>
<p>周二油价保持稳定，投资者关注美国总统唐纳德·特朗普对欧洲国家提高关税的威胁，因其推动收购格林兰的计划，而全球经济增长预期的增强和来自中国的好于预期的经济数据为价格提供了支撑。</p>
<p>新加坡现货交易</p>
<p>现货迪拜对掉期的溢价上涨 3 美分至每桶-8 美分。</p>
<table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>卖方 - 买方</td>
<td>价格 ($/桶)</td>
</tr>
<tr>
<td>PHILLIPS 66-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>SHENGHONG-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>VITOL-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>EQUINOR-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>BP-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>VITOL-MITSUI</td>
<td>61.80</td>
</tr>
<tr>
<td>VITOL-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>PHILLIPS 66-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>HENGLI-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>VITOL-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>RELIANCE-MERCURIA</td>
<td>61.84</td>
</tr>
<tr>
<td>VITOL-MERCURIA</td>
<td>61.80</td>
</tr>
<tr>
<td>TRAFIGURA-MERCURIA</td>
<td>61.80</td>
</tr>
</tbody>
</table>
<p>价格 ($/桶)</p>
<table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td></td>
<td>当前</td>
<td>上一交易日</td>
</tr>
<tr>
<td>GME 阿曼</td>
<td>62.22</td>
<td>62.20</td>
</tr>
<tr>
<td>GME 阿曼与迪拜差价</td>
<td>0.34</td>
<td>0.24</td>
</tr>
<tr>
<td>现货迪拜</td>
<td>61.80</td>
<td>61.95</td>
</tr>
</tbody>
</table>
<p>新闻</p>
<p>中国的燃料油总进口在 2025 年下降，此前在 2024 年创下历史新高，因进口税退税减少影响了独立炼油厂的需求。</p>
<p>叙利亚石油公司负责人尤瑟夫·凯布拉维周一表示，壳牌公司已请求撤出阿尔奥马尔油田，并将其股份转让给叙利亚国有运营商，但美国公司对该国的能源部门表现出兴趣。</p>
<p>法国石油巨头道达尔能源预计 2025 年第四季度的原油和液化天然气销售将下降，但下游业绩将更强劲，因为更高的炼油利润有助于抵消原油和液化天然气价格的疲软。</p>
<p>伊拉克将在 2 月份出口总计 223,000 桶/日，较上月增长 21%，路透社看到的装船计划显示。</p>
<p>有关原油价格、石油产品裂解和炼油利润的信息，请点击下面的 RIC。</p>
<table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>布伦特</td>
<td>(BRENTSGMc1)</td>
</tr>
<tr>
<td>迪拜</td>
<td>(DUBSGSWMc2)</td>
</tr>
<tr>
<td>GME 阿曼</td>
<td>(OQc1)</td>
</tr>
<tr>
<td>布伦特/迪拜 EFS</td>
<td>(DUB-EFS-1M)</td>
</tr>
<tr>
<td>产品裂解</td>
<td></td>
</tr>
<tr>
<td>燃料油裂解</td>
<td>(FO180SGCKMc1)</td>
</tr>
<tr>
<td>柴油裂解</td>
<td>(GO10SGCKMc1)</td>
</tr>
<tr>
<td>石脑油裂解</td>
<td>(NAF-SIN-CRK)</td>
</tr>
<tr>
<td>汽油裂解</td>
<td>(GL92-SIN-CRK)</td>
</tr>
<tr>
<td>综合炼油利润</td>
<td>(REF/MARGIN1)</td>
</tr>
</tbody>
</table>

油气服务 ETF - Market Vectors

能源业 ETF - Vanguard

美国 WTI 原油 ETF

油气开采 ETF - SPDR

SHEL

能源业 ETF - SPDR

美国油气勘探与生产 ETF - iShares

SHEH

标普全球能源股指数 ETF - iShares

<p>中东原油基准价格在周二上涨，穆尔班原油因亚洲买家的强劲需求接近两个月高点。阿曼和迪拜的价格也有所上涨，尽管迪拜仍然处于负值。油价趋于稳定，投资者对美国关税威胁作出反应，同时中国的积极经济数据支撑了价格。现金迪拜原油相对于掉期的溢价略有增加。此外，中国的燃料油进口在 2025 年下降，壳牌计划退出阿尔 - 奥马尔油田。道达尔预计 2025 年第四季度的原油和液化天然气销售将下降，但预计下游业务将表现更强劲</p>

<p>Middle East crude benchmarks increased on Tuesday, with Murban staying around the highest in two months, thanks to firm demand from Asian buyers.</p>
<div class="lb-trans"><p>中东原油基准在周二上涨，Murban 原油保持在两个月来的最高水平，得益于亚洲买家的强劲需求。</p>
</div><p>Oman and Dubai gained, while the latter remained as negative.</p>
<div class="lb-trans"><p>阿曼和迪拜上涨，而后者仍然处于负值。</p>
</div><p>Oil prices were steady on Tuesday as investors monitored U.S. President Donald Trump's threats of higher tariffs on European states over his drive to acquire Greenland, while firmer global economic growth expectations and better-than-expected economic data from China gave a floor to prices.</p>
<div class="lb-trans"><p>周二油价保持稳定，投资者关注美国总统唐纳德·特朗普对欧洲国家提高关税的威胁，因其推动收购格林兰的计划，而全球经济增长预期的增强和来自中国的好于预期的经济数据为价格提供了支撑。</p>
</div><p>SINGAPORE CASH DEALS</p>
<div class="lb-trans"><p>新加坡现货交易</p>
</div><p>Cash Dubai's premium to swaps rose 3 cents to -8 cents a barrel.</p>
<div class="lb-trans"><p>现货迪拜对掉期的溢价上涨 3 美分至每桶-8 美分。</p>
</div><table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>SELLER-BUYER</td>
<td>PRICE ($/BBL)</td>
</tr>
<tr>
<td>PHILLIPS 66-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>SHENGHONG-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>VITOL-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>EQUINOR-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>BP-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>VITOL-MITSUI</td>
<td>61.80</td>
</tr>
<tr>
<td>VITOL-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>PHILLIPS 66-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>HENGLI-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>VITOL-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>RELIANCE-MERCURIA</td>
<td>61.84</td>
</tr>
<tr>
<td>VITOL-MERCURIA</td>
<td>61.80</td>
</tr>
<tr>
<td>TRAFIGURA-MERCURIA</td>
<td>61.80</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>卖方 - 买方</td>
<td>价格 ($/桶)</td>
</tr>
<tr>
<td>PHILLIPS 66-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>SHENGHONG-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>VITOL-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>EQUINOR-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>BP-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>VITOL-MITSUI</td>
<td>61.80</td>
</tr>
<tr>
<td>VITOL-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>PHILLIPS 66-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>HENGLI-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>VITOL-MERCURIA</td>
<td>61.85</td>
</tr>
<tr>
<td>RELIANCE-MERCURIA</td>
<td>61.84</td>
</tr>
<tr>
<td>VITOL-MERCURIA</td>
<td>61.80</td>
</tr>
<tr>
<td>TRAFIGURA-MERCURIA</td>
<td>61.80</td>
</tr>
</tbody>
</table>
</div><p>PRICES ($/BBL)</p>
<div class="lb-trans"><p>价格 ($/桶)</p>
</div><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td></td>
<td>CURRENT</td>
<td>PREV SESSION</td>
</tr>
<tr>
<td>GME OMAN</td>
<td>62.22</td>
<td>62.20</td>
</tr>
<tr>
<td>GME OMAN DIFF TO DUBAI</td>
<td>0.34</td>
<td>0.24</td>
</tr>
<tr>
<td>CASH DUBAI</td>
<td>61.80</td>
<td>61.95</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td></td>
<td>当前</td>
<td>上一交易日</td>
</tr>
<tr>
<td>GME 阿曼</td>
<td>62.22</td>
<td>62.20</td>
</tr>
<tr>
<td>GME 阿曼与迪拜差价</td>
<td>0.34</td>
<td>0.24</td>
</tr>
<tr>
<td>现货迪拜</td>
<td>61.80</td>
<td>61.95</td>
</tr>
</tbody>
</table>
</div><p>NEWS</p>
<div class="lb-trans"><p>新闻</p>
</div><p>China's total fuel oil imports fell in 2025 after hitting a record high in 2024, as lower import tax rebates weighed on demand from independent refineries.</p>
<div class="lb-trans"><p>中国的燃料油总进口在 2025 年下降，此前在 2024 年创下历史新高，因进口税退税减少影响了独立炼油厂的需求。</p>
</div><p>The head of the Syrian Petroleum Company, Youssef Qeblawi, said on Monday that oil major Shell  had asked to withdraw from the al-Omar oilfield and transfer its share to Syria's state-owned operators but that U.S. companies were interested in the country's energy sector.</p>
<div class="lb-trans"><p>叙利亚石油公司负责人尤瑟夫·凯布拉维周一表示，壳牌公司已请求撤出阿尔奥马尔油田，并将其股份转让给叙利亚国有运营商，但美国公司对该国的能源部门表现出兴趣。</p>
</div><p>French oil major TotalEnergies  expects lower oil and liquefied natural gas sales in the fourth quarter of 2025, but stronger downstream results, as higher refining margins help offset weaker crude and LNG prices.</p>
<div class="lb-trans"><p>法国石油巨头道达尔能源预计 2025 年第四季度的原油和液化天然气销售将下降，但下游业绩将更强劲，因为更高的炼油利润有助于抵消原油和液化天然气价格的疲软。</p>
</div><p>Iraq will export a total of 223,000 barrels per day in February, up by 21% on the month, loading programmes seen by Reuters show.</p>
<div class="lb-trans"><p>伊拉克将在 2 月份出口总计 223,000 桶/日，较上月增长 21%，路透社看到的装船计划显示。</p>
</div><p>For crude prices, oil product cracks and refining margins, please click on the RICs below.</p>
<div class="lb-trans"><p>有关原油价格、石油产品裂解和炼油利润的信息，请点击下面的 RIC。</p>
</div><table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>Brent</td>
<td>(BRENTSGMc1)</td>
</tr>
<tr>
<td>Dubai</td>
<td>(DUBSGSWMc2)</td>
</tr>
<tr>
<td>GME Oman</td>
<td>(OQc1)</td>
</tr>
<tr>
<td>Brent/Dubai EFS</td>
<td>(DUB-EFS-1M)</td>
</tr>
<tr>
<td>PRODUCT CRACKS</td>
<td></td>
</tr>
<tr>
<td>Fuel oil crack</td>
<td>(FO180SGCKMc1)</td>
</tr>
<tr>
<td>Gasoil crack</td>
<td>(GO10SGCKMc1)</td>
</tr>
<tr>
<td>Naphtha crack</td>
<td>(NAF-SIN-CRK)</td>
</tr>
<tr>
<td>Gasoline crack</td>
<td>(GL92-SIN-CRK)</td>
</tr>
<tr>
<td>Complex refining margins</td>
<td>(REF/MARGIN1)</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>布伦特</td>
<td>(BRENTSGMc1)</td>
</tr>
<tr>
<td>迪拜</td>
<td>(DUBSGSWMc2)</td>
</tr>
<tr>
<td>GME 阿曼</td>
<td>(OQc1)</td>
</tr>
<tr>
<td>布伦特/迪拜 EFS</td>
<td>(DUB-EFS-1M)</td>
</tr>
<tr>
<td>产品裂解</td>
<td></td>
</tr>
<tr>
<td>燃料油裂解</td>
<td>(FO180SGCKMc1)</td>
</tr>
<tr>
<td>柴油裂解</td>
<td>(GO10SGCKMc1)</td>
</tr>
<tr>
<td>石脑油裂解</td>
<td>(NAF-SIN-CRK)</td>
</tr>
<tr>
<td>汽油裂解</td>
<td>(GL92-SIN-CRK)</td>
</tr>
<tr>
<td>综合炼油利润</td>
<td>(REF/MARGIN1)</td>
</tr>
</tbody>
</table>
</div>

中东原油基准价格上涨；Murban 原油价格接近两个月来的高点