原油：关注地缘对油运扰动，暂时观望

Report Industry Investment Rating - The report suggests a "temporary wait-and-see" approach for crude oil, keeping an eye on the geopolitical impact on oil transportation [1] Core Viewpoints - NYMEX WTI futures 01 contract rose $0.41 per barrel, a 0.69% increase, closing at $60.08 per barrel; ICE Brent futures 02 contract rose $0.49 per barrel, a 0.77% increase, closing at $63.75 per barrel; SC2601 crude oil futures closed up 3.70 yuan per barrel, an 0.82% increase, at 457.10 yuan per barrel [1] - The trend strength of crude oil is 0, indicating a neutral stance [10] Summary by Directory 1. Mexican Gulf Crude Oil Arbitrage - Saudi Extra Light, Light, Angolan, Nigerian, and North Sea crude oils have their arbitrage windows closed, reflecting weak competitiveness against WTI MEH or no cost advantage. For example, the arbitrage window for Saudi Extra Light is closed with an arbitrage space of -$5.46 per barrel [2] - Colombian, Ecuadorian Napo, and Castilla crude oils present arbitrage opportunities. Colombian Vasconia crude oil has an open arbitrage window with an arbitrage space of $0.79 per barrel [2] 2. Atlantic Crude Oil Arbitrage - Forties and Cabinda crude oils have their arbitrage windows closed, with Forties close to the break - even point and intense competition [4] - Arab Extra Light, Saharan Blend, and Urals crude oils show arbitrage opportunities. Urals crude oil has a significant arbitrage space of $21.12 per barrel, mainly due to sanctions - induced deep discounts [4] 3. Northwest Europe Crude Oil Arbitrage - WTI MEH, Eagle Ford, Azeri Light, Saharan Blend, and Bonny Light crude oils all have open arbitrage windows, indicating varying degrees of competitiveness in the Northwest European market. For example, Saharan Blend has an arbitrage space of $1.94 per barrel [6] 4. Mediterranean Crude Oil Arbitrage - Saharan Blend, Azeri Light, Bonny Light, and Ekofisk crude oils have their arbitrage windows closed, showing weak competitiveness against Urals crude oil. Ekofisk has an arbitrage space of -$21.48 per barrel [7] 5. Asian Crude Oil Arbitrage - Indonesian Duri, Ecuadorian Napo, and Mars crude oils present arbitrage opportunities. Ecuadorian Napo crude oil has a significant arbitrage space of $4.72 per barrel [8] - Iraqi Basrah Heavy and Mexican Maya crude oils have their arbitrage windows closed, indicating insufficient competitiveness [8] 6. Key Market News - Israeli Prime Minister Netanyahu stated that they are approaching the second stage of the Trump Gaza plan [11] - Iranian Foreign Minister Abbas Araqchi plans to visit Russia and Belarus soon [11] - China's Liaoning aircraft - carrier formation conducted far - sea training, and Japan's malicious monitoring and interference were strongly opposed [11] - G7 and the EU are negotiating to replace the price cap on Russian oil exports with a full ban on shipping services [11]