油价指标周报：原油库存飙升 远超季节性高点

Group 1 - As of the report date, Brent crude oil futures for February 2026 are priced at $63.23 per barrel, while WTI crude oil futures for January 2026 are priced at $59.55 per barrel [1][5] - Both crude oil and refined product inventories have increased this week, currently well above seasonal highs, with the surplus primarily due to rising inventories of other oil products in the U.S. [1][5] - The total inventory of refined products has increased, with gasoline and diesel inventories remaining within seasonal fluctuation ranges [1][5] Group 2 - As of the week ending November 28, crude oil inventories in the U.S., Japan, and the ARA region increased by 1.2% to 549.6 million barrels, with the inventory surplus narrowing from 21.2 million barrels to 10.3 million barrels compared to the five-year average [2][6] - Including global offshore crude oil inventories, total crude oil inventories rose by 4.1% to 681.2 million barrels, with the surplus expanding from 20.7 million barrels to 59.1 million barrels [2][6] - Refined product inventories in tracked regions increased by 0.7% to 1.0177 billion barrels, with the surplus expanding from 39.2 million barrels to 44.9 million barrels [2][6] Group 3 - The four-week average of U.S. refined product supply decreased by 42,000 barrels per day to 2.03 million barrels per day, down 109,000 barrels per day year-over-year [3][7] - The average dollar index reported at 99.1, down 0.56% from the previous week [4][8] - The net position of managed funds in ICE products increased by 7.6 million barrels week-over-week to 189.7 million barrels, ranking in the 27th percentile over the past five years [4][8]