原油：短线观望，关注各类价差反转

Report Industry Investment Rating - Short - term watch for crude oil, focus on the reversal of various spreads [1] Core Viewpoint - The report analyzes the price, dynamics, cross - regional comparison, key spreads,突发事件 or potential impact factors, and other news of the crude oil and refined oil markets, providing a comprehensive view of the current situation of the oil market [1][2][4] Summary by Related Catalogs 1. Crude Oil Market Price and Dynamics - WTI10 crude oil futures fell $0.59/barrel, or 0.91%, to $64.01/barrel; Brent October crude oil futures fell $0.50/barrel, or 0.73%, to $68.12/barrel; SC2510 crude oil futures rose $1.00/barrel, or 0.21%, to $483.90/barrel [1] - In different regions, prices and market dynamics vary. For example, in Europe, the spot trading volume in the Mediterranean decreased by 12% month - on - month due to the Russia - Ukraine conflict; in Asia, the demand for strategic reserve replenishment in China is strong; in America, the congestion of export facilities in the US Gulf has been alleviated [2] 2. Refined Oil Market Price and Dynamics - Different refined oil products in various regions have different price changes and market dynamics. For example, in the gasoline market, the ARA inventory in Europe increased as the summer driving season was coming to an end, while in Asia, Indonesia's Pertamina added a third - quarter import plan [4] 3. Cross - Regional Comparison - In terms of supply, the supply in Russia is restricted in Europe, Chinese refineries are under centralized maintenance in Asia, and the US production has reached a new high in America [5] - Regarding demand, the demand for diesel power generation is increasing in Europe, the summer consumption of gasoline is strong in Asia, and the export demand dominates in America [5] - In terms of inventory, the ARA diesel inventory in Europe is 208.5 tons, the Singapore light distillate inventory decreased by 11.01% week - on - week in Asia, and the crude oil inventory in the Gulf of Mexico is at a five - year low in America [5] 4. Key Spreads - Brent - Dubai spread is $3.25/barrel, up $0.30/barrel, indicating a worsening shortage of light - sweet crude oil [7] - WTI - Brent spread is - $2.82/barrel, down $0.25/barrel, showing an increase in the quality difference of US crude oil [7] 5.突发事件 or Potential Impact Factors - The attack in Ukraine led to the full shutdown of the Tuapse refinery and a halving of the export volume of Black Sea CPC blended oil [8] - The restart of Mexican refineries caused the production of Dos Bocas refinery to be delayed by 6 months, and the US gasoline export volume to Mexico increased by 45% year - on - year [8] 6. Other Market News - China's official manufacturing PMI in August was 49.4, with a previous value of 49.3 and an expected value of 49.5 [8] - The US oil drilling rig count increased to 412 in the week to August 29 [11] - The US crude oil production in June reached a record high, and the supply of crude oil and petroleum products also rose to the highest level since October 2024 [11]