化工需求依然持稳 液化石油气期货或震荡为主

Group 1: Natural Gas Market - Azerbaijan exported over 25 billion cubic meters of natural gas last year and has the potential to increase export volumes further, with plans to supply two additional countries [1] - As of the week ending December 30, the net long positions of natural gas speculators decreased by 3,293 contracts to 123,988 contracts in the major markets [1] - On January 5, natural gas futures trading volume reached 828,902 contracts, an increase of 421,980 contracts from the previous trading day, with open interest rising by 5,107 contracts to 1,576,553 [1] Group 2: Oil and LPG Market - The oil market continues to price in geopolitical risks, with the Iranian situation being more directly impactful on the LPG market compared to the US-Venezuela conflict [2] - In the past week, Middle Eastern propane shipments remained low, while US inventories showed an unusual seasonal increase, putting some pressure on prices [2] - The overall supply remains tight domestically, with low port arrivals and continuous inventory depletion, while demand remains stable, particularly in the chemical sector [2] - Geopolitical tensions, OPEC+ production pauses, and concerns over future supply excess are causing fluctuations in international oil prices [3] - Limited Middle Eastern supply and peak demand in the Far East are supporting LPG prices, despite some refinery operational instability and increased external supply [3] - Short-term expectations indicate a decrease in port arrivals, with a potential increase in inventory due to lower temperatures boosting combustion demand [3]