近期国际市场油价波动上升，根据2月24日的前10个工作日平均价格与上次调价前10个工作日平均价格对比情况，按照现行成品油价格机制， 自2月24日24时起，国内汽、柴油价格（标准品，下同）每吨分别上涨175元和170元。调整后，各省（区、市）和中心城市汽、柴油最高零售 价格见附表。 中石油、中石化、中海油三大公司及其他原油加工企业要组织好成品油生产和调运，确保市场稳定供应，严格执行国家价格政策。各地相关部 门要加大市场监督检查力度，严厉查处不执行国家价格政策的行为，维护正常市场秩序。消费者可通过12315平台举报价格违法行为。 转自：新华社 附：各省（区、市）和中心城市汽、柴油最高零售价格 | | 汽油(标准品) | 柴油(标准品) | | --- | --- | --- | | 实行一省一价的地区 | | | | 北京市 | 8815 | 7815 | | 天津市 | 8780 | 7780 | | 河北省 | 8780 | 7780 | | 山西省 | 8850 | 7835 | | 辽宁省 | 8780 | 7780 | | 吉林省 | 8780 | 7780 | | 黑龙江省 | 8780 | 7780 ...

国家发展改革委表示，中石油、中石化、中海油三大公司及其他原油加工企业要组织好成品油生产和调 运，确保市场稳定供应，严格执行国家价格政策。各地相关部门要加大市场监督检查力度，严厉查处不 执行国家价格政策的行为，维护正常市场秩序。消费者可通过12315平台举报价格违法行为。 国家发展改革委2月24日消息，近期国际市场油价波动上升，根据2月24日的前10个工作日平均价格与上 次调价前10个工作日平均价格对比情况，按照现行成品油价格机制，自2月24日24时起，国内汽、柴油 价格每吨分别上涨175元和170元。 ...

Core Viewpoint - Calumet Inc (CLMT) has no significant upcoming events disclosed as of January 4, 2026, indicating a stable operational status in its specialty products business, which includes base oils, fuels, and asphalt [1] Group 1 - The company specializes in the production of specialty products, including base oils, fuels, and asphalt [1] - The most recent public record indicates a stock price fluctuation event on November 4, 2025, where the stock price decreased by 5.23% [1] - There are currently no forecasts for future events related to the company [1]

摘要：【图】2025年8月天津市石脑油产量数据分析 2025年8月石脑油产量统计： 石脑油产量：39.7 万吨 同比增长：46.0% 增速较上一年同期变化：高18.4个百分点 据统计，2025年8月天津市规模以上工业企业石脑油产量与上年同期相比增长了46.0%，达39.7万吨，增 速较上一年同期高18.4个百分点，继续保持快速增长，增速较同期全国高48.2个百分点，约占同期全国 规模以上企业石脑油产量661.5万吨的比重为6.0%。 详见下图： 图1：天津市石脑油产量分月（当月值）统计图 2025年1-8月石脑油产量统计： 石脑油产量：253.4 万吨 同比增长：23.6% 增速较上一年同期变化：高37.5个百分点 据统计，2025年1－8月，天津市规模以上工业企业石脑油产量与上年同期相比增长了23.6%，达253.4万 吨，增速较上一年同期高37.5个百分点，增速较同期全国高24.1个百分点，约占同期全国规模以上企业 石脑油产量5283.7万吨的比重为4.8%。详见下图： 图2：天津市石脑油产量分月（累计值）统计图 注：主要能源产品产量月度统计范围为规模以上工业法人单位，即年主营业务收入2000万元及以上的 ...

Investment Rating - The report does not explicitly provide an investment rating for the oil refining industry Core Insights - The demand for long filament in the market has significantly decreased as the Spring Festival approaches [2] - Domestic key refining project price spread is 2479.13 CNY/ton, with a week-on-week change of -41.35 CNY/ton (-1.64%), while the foreign key refining project price spread is 1110.81 CNY/ton, with a week-on-week change of +3.54 CNY/ton (+0.32%) [2][3] - Brent crude oil weekly average price is 68.66 USD/barrel, with a week-on-week change of +1.97% [2][3] Refining Sector Summary - Geopolitical tensions between the US and Iran have influenced oil prices, with fluctuations observed throughout the week [2] - As of February 13, 2026, Brent and WTI crude oil prices are 67.75 USD/barrel and 62.89 USD/barrel, respectively, showing a decrease from the previous week [15] - Domestic refined oil prices show slight fluctuations, with diesel, gasoline, and aviation kerosene averaging 6234.14 CNY/ton, 7614.29 CNY/ton, and 5037.19 CNY/ton, respectively [15] Chemical Sector Summary - Chemical prices have generally declined, with polyolefins experiencing price fluctuations [2] - The polyester sector anticipates a quick recovery in production post-holiday, with PX and PTA prices increasing [2] - The nylon market shows an upward trend in pricing due to strong cost support [2] Price Changes of Major Refining Companies - The stock price changes for major refining companies as of February 13, 2026, include Rongsheng Petrochemical (+0.83%), Hengli Petrochemical (-0.61%), and Tongkun Co. (+8.07%) [2]

股本股东变化：股东户数较前期减少3.38%，户均持股数量增至1.14万股。 截至2026年2月13日收盘，国际实业（000159）报收于6.65元，较上周的6.95元下跌4.32%。本周，国际 实业2月9日盘中最高价报7.09元。2月13日盘中最低价报6.63元。国际实业当前最新总市值31.97亿元， 在光伏设备板块市值排名63/64，在两市A股市值排名4569/5189。 截至2026年2月10日，公司股东户数为4.22万户，较1月31日减少1475.0户，减幅为3.38%。户均持股数 量由上期的1.1万股增加至1.14万股，户均持股市值为7.83万元。 本周关注点 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 股本股东变化股东户数变动 ...

Investment Rating - The industry investment rating is "Positive" [1] Core Views - The report highlights the fluctuations in oil prices due to geopolitical tensions, particularly the ongoing negotiations between the US and Iran, which have created mixed signals in the market. The report notes that oil prices have experienced a decline, with Brent and WTI prices recorded at $67.75 and $62.89 per barrel, respectively, as of February 13, 2026 [2][9] - The report indicates an increase in US crude oil production, reaching 13.713 million barrels per day, which is an increase of 498,000 barrels per day from the previous week. However, the number of active drilling rigs in the US has decreased by 3 to 409 rigs [33][42] - The report also mentions that US crude oil inventories have risen by 8.44 million barrels, marking a 1.02% increase, with commercial crude oil stocks increasing by 8.53 million barrels, a 2.03% rise [46] Summary by Sections Oil Price Review - As of February 13, 2026, Brent crude futures settled at $67.75 per barrel, down $0.30 (-0.44%) from the previous week, while WTI crude futures settled at $62.89 per barrel, down $0.66 (-1.04%) [2][23] Offshore Drilling Services - The number of global offshore self-elevating drilling platforms is 368, a decrease of 2 from the previous week, while the number of floating drilling platforms is 131, also down by 1 [26] Crude Oil Supply - US crude oil production is reported at 13.713 million barrels per day, an increase of 498,000 barrels per day from the previous week. The number of active drilling rigs is 409, down by 3 [33] Crude Oil Demand - US refinery crude oil processing volume is 16 million barrels per day, a decrease of 29,000 barrels per day from the previous week, with a refinery utilization rate of 89.40%, down 1.1 percentage points [45] Crude Oil Inventory - Total US crude oil inventory stands at 844 million barrels, with a 1.02% increase of 8.529 million barrels from the previous week. Commercial crude oil inventory increased by 8.53 million barrels, a 2.03% rise [46] Related Companies - The report mentions several related companies, including China National Offshore Oil Corporation (CNOOC), China Petroleum & Chemical Corporation (Sinopec), and China National Petroleum Corporation (PetroChina) [3]

Report Industry Investment Rating No information provided regarding the report industry investment rating. Core Viewpoints of the Report - Supply side: As of the week of February 13, the asphalt开工率 decreased by 2.5 percentage points week - on - week to 29.12%, and the weekly asphalt output decreased by 22,500 tons to 442,800 tons. Some refineries in Shandong stopped asphalt production and switched to residue production, while others planned to resume production. In the Northeast, Dalian Xitai plans to resume asphalt production after the Spring Festival in April. In the Northwest, Xinjiang Karamay Petrochemical's daily asphalt output has recovered to 2,100 tons, with a planned production of about 60,000 tons in February. Although the high valuation of asphalt has declined, the port inventory of diluted asphalt is increasing, and continuous attention should be paid to the Venezuela event and raw material supply [5]. - Demand side: As of the week of February 13, the domestic asphalt shipment volume was 154,200 tons, a week - on - week decrease of 57,400 tons. The开工率 of road - modified asphalt was 2%, a week - on - week decrease of 7 percentage points, and the开工率 of waterproofing membrane asphalt was 5%, a week - on - week decrease of 10 percentage points. During the Spring Festival holiday, rigid demand and logistics basically stagnated, traders gradually closed for the holiday, and major refineries mainly fulfilled orders [5]. - Inventory side: Asphalt refineries slightly increased their inventory by 5,000 tons, and social inventories continued to increase by 46,400 tons [5]. - Unilateral: Although the asphalt valuation has slightly declined, it is still at a high level, and the demand side remains weak. It is expected to mainly fluctuate with crude oil. Due to the high uncertainty of overseas crude oil during the Spring Festival holiday, it is recommended to wait and see. - Cross - variety arbitrage: Temporarily wait and see for asphalt cracking arbitrage. - Spot - futures and inter - period arbitrage: Temporarily wait and see. - Options: Hold short put options [5]. Summary by Relevant Catalogs Supply Angle - Refinery production status: Jincheng Petrochemical in Shandong stopped asphalt production and switched to residue production on February 11, Qilu Petrochemical did the same on February 12. Lanqiao Petrochemical will resume asphalt production after the end of equipment maintenance at the end of February, Qicheng Petrochemical will resume production on February 18, and Shengxing Petrochemical stopped asphalt production and switched to residue production on February 4. Dalian Xitai in the Northeast plans to resume asphalt production after the Spring Festival in April. Xinjiang Karamay Petrochemical in the Northwest has its daily asphalt output recovered to 2,100 tons, with a planned production of about 60,000 tons in February [5][7]. -开工率 and output: The asphalt开工率 decreased by 2.5 percentage points week - on - week to 29.12%, and the weekly asphalt output decreased by 22,500 tons to 442,800 tons [5][9][19]. - Equipment maintenance plan: Many refineries across the country are in a state of equipment maintenance, suspension of production, or production switching, including those in the Northwest, Northeast, North China, Central China, East China, the Yangtze River Delta, South China, and Southwest regions [22][23]. Demand Angle - Market situation during the Spring Festival: During the Spring Festival holiday, rigid demand and logistics basically stagnated, traders gradually closed for the holiday, and major refineries mainly fulfilled orders. Different regions had different demand situations, such as demand stagnation in Shandong, slow - down in shipment in North China, and reduced market transactions in East China [26]. - Seasonal decline: As of the week of February 13, the domestic asphalt shipment volume, the开工率 of road - modified asphalt, and the开工率 of waterproofing membrane asphalt all seasonally declined to low levels. The asphalt shipment volume was 154,200 tons, a week - on - week decrease of 57,400 tons; the开工率 of road - modified asphalt was 2%, a week - on - week decrease of 7 percentage points; and the开工率 of waterproofing membrane asphalt was 5%, a week - on - week decrease of 10 percentage points [5][28][29]. - Weather impact: In the next ten days, there will be strong precipitation in the northern part of the Yangtze River Basin, and the average temperature in most parts of the country will be high but with large fluctuations in cold and warm. This may have an impact on asphalt demand [31][33]. Inventory Angle - Refinery inventory: As of the week of February 13, domestic asphalt refinery inventories slightly increased by 5,000 tons to 846,600 tons. Inventories in different regions showed different trends [36]. - Social inventory: As of the week of February 13, domestic asphalt social inventories continued to increase by 46,400 tons to 1,570,500 tons. Inventories in different regions also showed different trends [44]. Basis Angle - Recent basis changes are not significant, as shown by the basis data of different contracts such as BU02, BU05, etc. [60][61][62]. Spread Angle - It is recommended to wait and see for spread arbitrage, as shown by the spread data of different contract combinations such as BU02 - 03, BU05 - 06, etc. [74][75][76]. Profit Angle - Production profit: As of the week of February 13, the asphalt production gross profit was 8 yuan/ton, a decrease of 125 yuan/ton, and the asphalt production cost was 3,216 yuan/ton, an increase of 41 yuan/ton. The port inventory of domestic diluted asphalt was 980,000 tons, an increase of 20,000 tons. The high valuation of asphalt has declined, and the port inventory of diluted asphalt is increasing. Attention should be paid to whether the Venezuela event affects raw material supply [89]. - Cracking spread: The asphalt cracking spread at a high level has slightly declined, as shown by the data of different contract combinations such as BU02/SC03, BU02/Brent04, etc. [91][92][93]. Warehouse Receipt Angle - Warehouse receipt quantity: The warehouse receipts slightly increased. - Virtual - to - real ratio: The virtual - to - real ratios of contracts 04 and 05 have declined from high levels, while those of other contracts are neutral [108][109].

【冠通期货研究报告】 沥青春节假期持仓报告：供需双弱，易受原油波动影响 发布日期：2026年2月12日 【行情分析】 供应端，上周沥青开工率环比回落1.0个百分点至24.5%，较去年同期高了0.1个百分点，处于近 年同期偏低水平。据隆众资讯数据，2026年2月份国内沥青预计排产193.6万吨，环比减少6.4万吨， 减幅为3.2%，同比减少13.5万吨，减幅为6.5%。上周，临近春节，沥青下游各行业开工率多数下跌， 其中道路沥青开工环比下跌5个百分点至9%。上周，山东地区在价格上涨后终端需求疲软，其出货量 减少较多，全国出货量环比减少1.33%至21.16万吨，处于中性偏低水平。沥青炼厂库存率环比小幅下 降，处于近年来同期的最低位。委内瑞拉重质原油流向国内地炼严重受限，这将影响国内沥青的生 产和成本，有消息称大型贸易商维多中国报价委内瑞拉原油贴水5美元/桶，这比2025年12月份的贴 水13美元/桶大幅缩小，市场消息称Reliance采购约200万桶委油、4月到港，对布伦特折价约-6.50美 元/桶，国内炼厂获得委内瑞拉原油的可能性增加，但预计还是较美国介入前大幅下降，关注国内炼 厂原料短缺情况。本周齐鲁石化、 ...

Group 1: Core Perspectives - The article highlights the commitment of enterprises in the Yangpu Economic Development Zone towards green and low-carbon development, supported by precise tax guidance from the Danzhou Tax Bureau [1][2][3] Group 2: Green Tax System and Environmental Initiatives - The Danzhou Tax Bureau is enhancing green tax collection and management, utilizing environmental taxes and corporate income taxes to encourage companies to reduce emissions and improve efficiency [2][3] - Hainan Yisheng Petrochemical Co., as a leading enterprise in the Yangpu petrochemical industry, has increased its environmental investments and achieved a 100% compliance rate in pollution discharge and environmental facility operation [3] - The company has implemented measures such as rooftop solar panels and waste heat recovery, saving over 100,000 tons of standard coal annually [3] Group 3: Traditional Industry Transformation - The Danzhou Tax Bureau is promoting the transformation of traditional industries, such as energy and water supply, towards low-carbon development through targeted policies and green tax systems [4] - Yangpu New Energy Development Co. is utilizing agricultural waste for biomass heating, producing 90,000 tons of steam annually and generating over 200 million yuan in revenue [4] Group 4: Industrial Park Development - The Danzhou Tax Bureau is focusing on transforming industrial parks into zero-carbon demonstration zones, promoting the use of renewable energy sources like solar and wind power [5] - The Yangpu International Smart Supply Chain Center has achieved carbon neutrality and annually saves approximately 1,328 tons of standard coal while reducing carbon emissions by 1,473 tons [5]