石油:库存减少支撑价格 – 星展银行
星展集团研究策略师Eugene Leow警告称,尤其是在美国,低油库存可能会支撑油价和全球收益率,即使美伊达成协议重新开放霍尔木兹海峡。

星展集团研究策略师Eugene Leow警告称,尤其是在美国,低油库存可能会支撑油价和全球收益率,即使美伊达成协议重新开放霍尔木兹海峡。他指出,近期的乐观情绪已推动油价和国债收益率走低,但原油库存和战略石油储备的持续减少仍然是通胀的隐忧。

中东局势扰动后的库存风险

“我们对过去几个月油库存的减少及其后果越来越警惕,即使美伊冲突结束,市场参与者突然认为油价应大幅上涨。”

“回顾来看,市场压力峰值出现在三月底,这体现在原油的显著实物溢价上。”

“过去几周,市场参与者对美伊达成协议、霍尔木兹海峡重新开放的乐观情绪日益增强。”

“因此,随着短期通胀担忧缓解,投资者拉低了油价和国债收益率。”

“在最理想的情况下,如果未来几周能源运输量显著恢复,我们认为多国库存的重建将意味着油价将在一段时间内得到支撑。”

(本文借助人工智能工具撰写,并由编辑审核。)

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