原油日报 | 2025-10-10 1、 纽约商品交易所11月交货的轻质原油期货价格下跌1.04美元，收于每桶61.51美元，跌幅为1.66%；12月交货的 伦敦布伦特原油期货价格下跌1.03美元，收于每桶65.22美元，跌幅为1.55%。SC原油主力合约收跌0.96%，报464 元/桶。 2、 阿联酋富查伊拉石油工业区最新数据显示，截至10月6日当周，阿联酋富查伊拉港的成品油总库存为1633.4万 桶，较一周前增加300.6万桶。其中轻质馏分油库存增加217.9万桶至810.7万桶，中质馏分油库存增加41.6万桶至230.7 万桶，重质残渣燃料油库存增加41.1万桶至592万桶。（来源：Bloomberg） 3、 EIA短期能源展望报告：预计2025年布伦特价格为68.64美元/桶，此前预期为67.80美元/桶。预计2025年WTI原 油价格为65.00美元/桶，此前预期为64.16美元/桶。（来源：Bloomberg） 4、 新加坡企业发展局（ESG）：截至10月8日当周，新加坡燃料油库存下降892000桶，至2366.9万桶的两周低点。 （来源：Bloomberg） 5、 俄罗斯副总理诺瓦克：俄罗斯将逐 ...

Group 1: Core Viewpoints - The high - sulfur cracking spread began to decline this week, the 380 - month spread fluctuated at a high level, and the 380 basis weakened. The low - sulfur cracking spread, month spread, and basis all fluctuated. In terms of fundamentals, on - land inventories in Singapore and ARA continued to accumulate, while US residual oil inventories decreased. Singapore's high - sulfur floating storage increased significantly, the Middle East's high - sulfur floating storage fluctuated, and low - sulfur floating storage decreased. European floating storage increased significantly. In 2025, pay attention to the impact of sanctions on Iran on global heavy - quality valuations. In the Asian region, focus on whether Russian supply will return to the benchmark. The far - month 380 has downside potential. Recently, global and Singapore residual oil inventories have been increasing, so the near - month 380 is expected to face continued pressure. The low - sulfur market remains in a volatile pattern [3][8] Group 2: Rotterdam Fuel Oil Swap Data 3.5% HSF Swap M1 - On April 16, 2025, the price was 397.83. On April 17, it was 408.43, with a change of 10.57 [1] 0.5% VLSFO Swap M1 - On April 16, 2025, the price was 430.85. On April 17, it was 441.13, with a change of 8.40 [1] HSFO - Brent M1 - On April 16, 2025, the value was - 2.30. On April 17, it was - 2.30, with a change of 0.34 [1] 10ppm Gasoil Swap M1 - On April 16, 2025, the price was 595.85. On April 17, it was 607.75, with a change of 10.40 [1] VLSFO - Gasoil M1 - On April 16, 2025, the value was - 165.00. On April 17, it was - 166.62, with a change of - 2.00 [1] LGO - Brent M1 - On April 16, 2025, the value was 16.43. On April 17, it was 15.93, with a change of 0.19 [1] VLSFO - HSFO M1 - On April 16, 2025, the value was 33.02. On April 17, it was 32.70, with a change of - 2.17 [1] Group 3: Singapore Fuel Oil Swap Data 380cst M1 - On April 16, 2025, the price was 413.13. On April 22, it was 423.34, with a change of 3.36 [1] 180cst M1 - On April 16, 2025, the price was 425.63. On April 22, it was 437.60, with a change of 3.81 [1] VLSFO M1 - On April 16, 2025, the price was 462.42. On April 22, it was 476.78, with a change of 3.74 [1] Gasoil M1 - On April 16, 2025, the price was 80.00. On April 22, it was 81.42, with a change of 0.20 [1] 380cst - Brent M1 - On April 16, 2025, the value was 0.96. On April 22, it was 0.55, with a change of 0.24 [1] VLSFO - Gasoil M1 - On April 16, 2025, the value was - 129.58. On April 22, it was - 125.73, with a change of 2.26 [1] Group 4: Singapore Fuel Oil Spot Data FOB 380cst - On April 16, 2025, the price was 416.99. On April 22, it was 422.28, with a change of 5.61 [2] FOB VLSFO - On April 16, 2025, the price was 470.33. On April 22, it was 481.09, with a change of 3.35 [2] 380 Basis - On April 16, 2025, the value was - 0.55. On April 22, it was - 1.35, with a change of 2.70 [2] High - Sulfur Domestic - Foreign Spread - On April 16, 2025, the value was 7.3. On April 22, it was 6.9, with a change of - 0.7 [2] Low - Sulfur Domestic - Foreign Spread - On April 16, 2025, the value was 4.1. On April 22, it was 5.1, with a change of 1.1 [2] Group 5: Domestic FU Data FU 01 - On April 16, 2025, the price was 2637. On April 22, it was 2734, with a change of - 13 [2] FU 05 - On April 16, 2025, the price was 3016. On April 22, it was 3035, with a change of - 13 [2] FU 09 - On April 16, 2025, the price was 2758. On April 22, it was 2863, with a change of - 1 [2] FU 01 - 05 - On April 16, 2025, the value was - 379. On April 22, it was - 301, with a change of 0 [2] FU 05 - 09 - On April 16, 2025, the value was 258. On April 22, it was 172, with a change of - 12 [2] FU 09 - 01 - On April 16, 2025, the value was 121. On April 22, it was 129, with a change of 12 [2] Group 6: Domestic LU Data LU 01 - On April 16, 2025, the price was 3262. On April 22, it was 3352, with a change of 10 [3] LU 05 - On April 16, 2025, the price was 3350. On April 22, it was 3478, with a change of 33 [3] LU 09 - On April 16, 2025, the price was 3274. On April 22, it was 3387, with a change of 13 [3] LU 01 - 05 - On April 16, 2025, the value was - 88. On April 22, it was - 126, with a change of - 23 [3] LU 05 - 09 - On April 16, 2025, the value was 76. On April 22, it was 91, with a change of 20 [3] LU 09 - 01 - On April 16, 2025, the value was 12. On April 22, it was 35, with a change of 3 [3]