匈牙利能源部议会国务秘书加博尔·切佩克当地时间2日表示，如果对俄罗斯能源实施禁 运，匈牙利将面临严峻挑战，能源支出将上涨20%。 匈牙利欧盟事务部长：对俄制裁不能包含影响匈能源和经济安全措施 。 匈牙利欧盟事务部长博考当地时间10月3日在社交媒体表示，欧盟对俄罗斯第19轮制裁不 能包含影响匈牙利能源和经济安全的措施。 博考表示，俄乌冲突爆发以来，欧洲经济为对俄制裁付出巨大代价，相关制裁对欧洲带来 的伤害超过对俄罗斯的伤害，匈牙利在天然气方面尤其如此。 End 欢迎分享给你的朋友！ 出品 | 中国能源报（c n e n e rg y） 编辑丨赵方婷 9月1 9日，欧盟委员会主席冯德莱恩宣布向成员国提交了第1 9轮对俄制裁措施。根据欧盟 相关程序，新一轮制裁措施须经27个成员国一致同意后方可生效，目前欧盟内部尚未达成 一致。 来源：央视新闻客户端 ...

上周开始，美国常驻北约代表马修·惠特克在电视采访中公开批评欧洲盟友，指责他们在对俄制裁问题 上口是心非。他直言，欧洲一方面继续大量购买俄罗斯石油，另一方面却不断要求美国加大制裁力度， 这种做法等于把美国推到前线，让华盛顿承担主要代价。根据欧盟海关的数据，2025年8月，欧洲仍然 从俄罗斯进口了价值数亿欧元的石油，这些原油通过波罗的海管道和陆路线路源源不断地进入欧洲，为 莫斯科的能源出口提供了支持。 快传号 / 观文史说 不仅如此，这场争论的影响已经延伸到全球。印度公开批评美欧双重标准，指出西方自己与俄罗斯的能 源贸易仍在持续，却对印度增加进口提出指责。据报道，印度9月份预计将把从俄罗斯进口的原油提高 10%到20%。与此同时，欧盟还在7月份对印度的Nayara能源公司实施制裁，而这家公司背后有俄罗斯 石油巨头的股份。 美国国内也存在争议。部分共和党参议员认为特朗普在对俄政策上过于温和，担心这种"条件式制裁"削 弱了威慑力。但特朗普坚持认为，只有全体北约成员齐心协力，制裁才会产生决定性效果。他在9月14 日白宫的记者会上强调，俄罗斯经济已明显受到制裁冲击，但必须进一步扩大范围，而这需要欧洲率先 停止石油采购。9 ...

AI播客：换个方式听新闻 下载mp3 音频由扣子空间生成 在乌克兰及其盟友消化美国总统特朗普对其抗击俄罗斯的最新乐观言论所带来的意外之际，有迹象表 明，这位美国总统正在采取一个熟悉的举动：不是向俄罗斯，而是向欧洲施加压力。 特朗普周二的社交媒体帖子，逆转了他过去声称乌克兰在这场战斗中"无牌可打"的说法。但他没有提出 任何新的美国措施来支持基辅，而是将此事留给了欧洲的盟友。该帖子也未提及任何收紧对俄制裁的新 举措。 自1月重返白宫以来，特朗普曾周期性地威胁要实施全面的新制裁，他曾说这将迫使俄罗斯坐到谈判桌 前，但他很少兑现，只是一再给普京更多时间，即使这位俄罗斯领导人加强了对乌克兰的攻击。 美国官员本周向盟友保证，鉴于俄罗斯自阿拉斯加峰会以来的局势升级，最近还包括入侵北约领空，本 届政府已意识到需要采取新方法来改变普京的心态。对盟友来说，特朗普对乌克兰获胜机会的语气转 变，是一个受欢迎的变化，而就在上个月，他还曾要求基辅放弃领土以换取和平协议。 一位白宫官员表示，特朗普已明确表示这不是美国的战争，欧洲人必须挺身而出，主导自己的防务。 但私下里，他们更为谨慎，感觉到特朗普正将结束俄乌冲突的责任推给他们。尽管特朗普 ...

交易咨询业务资格：证监许可【2012】1091号 2025-09-25燃料油早报 大越期货投资咨询部 金泽彬 从业资格证号：F3048432 投资咨询证号： Z0015557 联系方式：0575-85226759 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投 资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 CONTENTS 目 录 1 每日提示 2 多空关注 3 基本面数据 4 5 价差数据 库存数据 近期多空分析 利多： 利空： 行情驱动：供应端受地缘风险影响与需求中性共振 风险点：OPEC+内部团结破坏；战争风险升级 1. 对俄制裁可能加码 2. 俄罗斯燃油出口限制可能延长 1.需求端乐观仍待验证 2.上游原油价格偏弱 每日期货行情 燃料油： 1、基本面：新加坡燃料油交易商表示，高硫燃料油近期出现部分原料需求，尤其是来自中国的。虽然公共事业 发电需求疲软，但当前高硫燃料油的支撑主要来自船燃市场和炼厂原料需求；另一位新加坡燃料油交易商称， 当前含硫0.5%船用燃油市场的主要问题仍在于库存充足，在当前市场结构下，低硫 ...

"这一进程很缓慢，非常缓慢。"佩斯科夫在接受采访时表示，"在那方面的成效接近于零。" 据美国有线电视新闻网9月8日报道，美国总统特朗普7日称，他已准备好对俄罗斯实施第二阶段制裁。另据俄新社8日报道，针 对美国关于加强对俄制裁的声明，佩斯科夫称，过往至今对俄实施的"空前数量的制裁毫无效果"。事实证明，这些制裁措施在 对俄施压方面"毫无作用"。对俄制裁是乌政府和欧洲国家竭力支持的首要议程，他们尽一切可能将美国拉拢进来并实施这些制 裁。 责任编辑：何俊熹 【环球网报道 记者 张倩】法新社最新援引俄罗斯商业咨询（RBC）电台消息报道称，克里姆林宫发言人佩斯科夫当地时间24日 表示，尽管美国近几个月试图重建俄美关系，但双方和解成效"接近于零"。 ...

来源：参考消息 据俄罗斯卫星社9月24日报道，美国总统特朗普表示，他与俄罗斯总统普京的良好私人关系，出人意料 地并未对乌克兰冲突的解决进程产生任何作用。 （原标题：特朗普承认"没有料到"） 特朗普在联大演讲时还要求欧洲国家加入美国对俄制裁行列。他表示，欧洲仍在采购俄罗斯的能源，这 是"可耻"行为。 特朗普在纽约联合国大会期间会见法国总统马克龙时说："最大的失望是俄罗斯与乌克兰的局势。我本 以为，得益于我和普京的关系，这是最容易解决的问题，但遗憾的是，这种关系毫无意义。" 另据俄罗斯卫星社9月23日报道，美国总统特朗普在联合国大会上发言表示，如果俄罗斯不同意结束冲 突，美国有意对俄罗斯征收高额关税。 特朗普说："如果俄罗斯不愿签署协议结束冲突，美国已作好充分准备，将征收新一轮非常严厉的关 税。" 特朗普说："若是俄罗斯不愿达成停止战争的协议，美国做好了实施最为严厉的关税措施的全面准备， 我相信，这将非常迅速地结束冲突。但要使这些关税有效果，欧洲国家必须加入我们并采取完全一致的 行动，欧洲人必须行动起来。他们不能再像现在这样继续下去。他们一边不停地采购俄罗斯的石油和天 然气，一边在与俄罗斯对抗，这是可耻的。" 突 ...

来源：参考消息 据俄罗斯卫星社9月24日报道，美国总统特朗普表示，他与俄罗斯总统普京的良好私人关 系，出人意料地并未对乌克兰冲突的解决进程产生任何作用。 特朗普在纽约联合国大会期间会见法国总统马克龙时说： "最大的失望是俄罗斯与乌克兰 的局势。我本以为，得益于我和普京的关系，这是最容易解决的问题，但遗憾的是，这种 关系毫无意义。" 另据俄罗斯卫星社9月23日报道，美国总统特朗普在联合国大会上发言表示，如果俄罗斯 不同意结束冲突，美国有意对俄罗斯征收高额关税。 特朗普说："如果俄罗斯不愿签署协议结束冲突，美国已作好充分准备，将征收新一轮非 常严厉的关税。" 特朗普在联大演讲时还要求欧洲国家加入美国对俄制裁行列。他表示，欧洲仍在采购俄罗 斯的能源，这是"可耻"行为。 特朗普说："若是俄罗斯不愿达成停止战争的协议，美国做好了实施最为严厉的关税措施 的全面准备，我相信，这将非常迅速地结束冲突。但要使这些关税有效果，欧洲国家必须 加入我们并采取完全一致的行动，欧洲人必须行动起来。他们不能再像现在这样继续下 去。他们一边不停地采购俄罗斯的石油和天然气，一边在与俄罗斯对抗，这是可耻的。" 突发异动！多股直线拉涨停 ...

1. Report Industry Investment Rating - Not provided 2. Core View of the Report - The precious metals market continued its strong upward trend during Monday's trading session, with gold and silver futures prices hitting new all - time highs. After the interest rate cut bullish factors were realized, the market selling pressure increased significantly, and the market entered a wide - range volatile correction starting last Wednesday. On Friday night, driven by the warming trading sentiment, the precious metals market continued to break through strongly, and the silver futures prices at home and abroad hit new all - time highs. Beyond the interest rate cut expectations, geopolitical conflicts and the intensifying US government debt problem are structurally bearish for the US dollar, providing strong support for the gold price. In the future, after the gold and silver prices quickly break through important levels, they may face upward resistance and the callback pressure gradually increases. There is a high possibility that the gold and silver prices will enter a phase of consolidation after hitting new highs. The market's strong bullish sentiment towards the precious metals market may become more cautious, and the subsequent market trend will still depend on the performance of the August PCE personal consumption expenditure data. Interval band trading is recommended, and short positions can be lightly established on rallies [2] 3. Summary by Relevant Catalogs 3.1 Futures Market - The closing price of the Shanghai gold main contract was 846.5 yuan/gram, up 15.94 yuan; the closing price of the Shanghai silver main contract was 10317 yuan/kilogram, up 346 yuan. The main contract positions of Shanghai gold were 260256 lots, up 20079 lots; the main contract positions of Shanghai silver were 504051 lots, up 70069 lots. The net positions of the top 20 in the Shanghai gold main contract were 174322 lots, up 2828 lots; the net positions of the top 20 in the Shanghai silver main contract were 128977 lots, down 6586 lots. The warehouse receipt quantity of gold was 57429 kilograms, unchanged; the warehouse receipt quantity of silver was 1148624 kilograms, down 10819 kilograms [2] 3.2 Spot Market - The Shanghai Non - ferrous Metals Network's gold spot price was 835.4 yuan/gram, up 9.5 yuan; the silver spot price was 10167 yuan/kilogram, up 306 yuan. The basis of the Shanghai gold main contract was - 11.1 yuan/gram, down 6.44 yuan; the basis of the Shanghai silver main contract was - 150 yuan/kilogram, down 40 yuan [2] 3.3 Supply and Demand Situation - The gold ETF holdings were 994.56 tons, up 18.9 tons; the silver ETF holdings were 15205.14 tons, unchanged. The non - commercial net positions of gold in CFTC were 266410 contracts, up 4670 contracts; the non - commercial net positions of silver in CTFC were 51538 contracts, down 2399 contracts. The total supply of gold in the quarter was 1313.01 tons, up 54.84 tons; the total supply of silver in the year was 987.8 million troy ounces, down 21.4 million troy ounces. The total demand for gold in the quarter was 1313.01 tons, up 54.83 tons; the global total demand for silver in the year was 1195 million ounces, down 47.4 million ounces. The 20 - day historical volatility of gold was 12.43%, and the 40 - day historical volatility of gold was 10.66%, down 0.01% [2] 3.4 Option Market - The implied volatility of at - the - money call options for gold was 17.62%, down 4.98%; the implied volatility of at - the - money put options for gold was 17.63%, down 5.01% [2] 3.5 Industry News - Wall Street is betting that the Fed will cut interest rates faster and more significantly in the future. The futures market bets that the Fed's benchmark short - term interest rate will fall below 3% by the end of next year. US Senate Democrats blocked a Republican - proposed temporary funding bill, forcing both sides to negotiate to avoid a government shutdown. The Trump administration is considering a $550 billion investment fund to promote US factory and infrastructure construction. The EU Commission passed a new round of sanctions against Russia, covering energy, financial services, and trade restrictions [2]

Group 1 - The European Union (EU) has decided to ban the import of Russian natural gas, moving the implementation date from 2028 to 2027, in response to pressure from the Trump administration and to cut off a major funding source for Russia amid the Ukraine war [1] - The EU's original plan to announce the 19th round of sanctions against Russia was postponed due to a letter from Trump urging NATO members to act in unison and stop importing Russian oil [1] - The early implementation of the gas ban is expected to result in hundreds of billions of euros in losses for the Russian energy sector, which could have been used to support military operations in Ukraine [1] Group 2 - Despite ongoing condemnation of Russia's military actions, the EU imported $4.4 billion worth of liquefied natural gas from Russia in the first half of the year, with Russian gas still accounting for 14% of the EU's LNG imports in Q2 [2] - The EU has introduced a price cap of $47.6 per barrel on Russian oil as part of its sanctions, which requires unanimous agreement from all 27 member states to take effect [4] - To gain Hungary's support for the sanctions, the EU proposed to unfreeze part of the funds that had been previously frozen due to rule of law issues, offering Hungary a special allocation of €550 million from a total of €22 billion in frozen aid [5]

Group 1 - The European Union (EU) is set to discuss the 19th round of sanctions against Russia, focusing on economic sanctions and personnel restrictions [1] - The sanctions plan includes a complete ban on importing Russian liquefied natural gas starting in 2027, enhanced export controls on high-end components, and expanded restrictions on Russian financial institutions [1] - Since the onset of the Russia-Ukraine conflict in February 2022, the EU has implemented 18 rounds of sanctions, with over 2400 individuals and entities blacklisted [3] Group 2 - The sanctions have not achieved their intended effects, as they have failed to weaken the Russian economy and have instead caused negative impacts on Western economies [3] - Energy prices in Europe have surged, with significant increases in electricity and natural gas prices, affecting the cost of living and leading to losses for companies reliant on Russian raw materials [4] - Russia is actively seeking to reduce its dependence on Western markets by expanding trade with countries like China and increasing cooperation with BRICS nations [5] Group 3 - There are internal divisions within the EU regarding the sanctions, with countries like Hungary opposing energy sanctions, which may affect the approval of the new sanctions [7] - The potential ban on Russian liquefied natural gas could lead to global energy price volatility, with warnings from the International Monetary Fund about the risk of a fragmented global economy [7] - Historical evidence suggests that unilateral sanctions are unlikely to achieve political goals and may exacerbate global economic fragmentation [9]