"整体来看，预计下一轮成品油调价上调的概率较大。"展望后市，李彦对记者表示，虽然美伊双方仍将 进行新一轮会谈，但市场对双方潜在冲突的风险仍有担忧。此外，俄乌和谈也无实质性进展，因而地缘 带来的利好支撑依然存在。 按照现行成品油定价机制，国内成品油调价的主要依据是10个工作日国际原油价格加权平均价跟上一周 期国际原油价格加权平均价对比得出的变化率。 隆众资讯原油分析师李彦向第一财经记者介绍，本轮调价周期原油综合变化率以正向开局，并一直维持 在正向区间，最终对应成品油为上调，也是2026年以来的第三次上调。"本轮调价周期内，变化率最高 为第十个工作日的3.73%，最低为第一个工作日的1.49%。最终调价窗口开启时、汽油和柴油对应上调 幅度分别为175和170元/吨。" 国内成品油迎"三连涨"主要受期间国际油价上涨的影响。第一财经记者注意到，春节期间，受地缘政治 风险升温等因素影响，原油价格出现上涨。2月中旬至今，布伦特原油价格涨幅超过5%。日前，布伦特 原油价格一度冲高至72.50美元/桶，创下自去年7月31日以来的新高。 根据"十个工作日"原则，下一轮成品油零售调价窗口将在3月9日24时开启。 以油箱容量50L ...

对涨价原因，隆众资讯分析师称，本轮计价周期内，国际原油震荡收涨，市场依然担忧美伊关系的不确 定性，叠加俄乌和谈暂无实质性进展，潜在供应风险再现，国际油价上涨。整体来看，计价周期内挂靠 油种均价上移，所对应的原油综合变化率正向区间运行，开启本轮零售价上调窗口。 本轮是2026年第四次调价，今年以来的第三次上调。本次调价过后，2026年成品油调价将呈现"三涨零 跌一搁浅"的格局。下一次调价窗口将在2026年3月9日24时开启。展望后市，机构认为，地缘对国际油 价带来的支撑依然存在，整体来看，预计下一轮成品油调价上调的概率较大。 根据机构测算，折合每升，92号汽油上调0.14元、95号上调0.15元、0号柴油0.14元。本轮调价后，全国 大多数地区92号汽油零售限价在7.0元至7.1元/升。调价会使私家车主用油成本增加。以油箱容量50升的 普通私家车计算，这次调价后，车主们加满一箱油将多花7元左右。 来源：北京日报客户端 2月24日，农历马年春节后首个工作日，油价调整窗口开启，迎来一次上涨。国家发改委通知，自2月24 日24时起，国内汽、柴油价格（标准品）每吨分别上涨175元和170元。 记者：孙杰 ...

Market Overview - During the Spring Festival period (February 16 to 23), the Hong Kong stock market showed a fluctuating upward trend, with the Hang Seng Index rising by 1.94% [1] - The materials and energy sectors performed strongly, with increases of 7.37% and 4.66% respectively, driven by rising international precious metal and energy prices alongside heightened geopolitical risks [1] - In contrast, both essential and non-essential consumer sectors experienced slight declines, indicating cautious expectations regarding the pace of consumer recovery [1] Sector Performance - The technology sector underperformed overall, with the Hang Seng Technology Index only increasing by 0.47% for the week, although it showed signs of recovery with a significant rise of 3.64% on February 23 [1] - The structural characteristics observed in the Hong Kong market during the holiday period may also reflect in the A-share market post-holiday, with cyclical industries linked to resource sectors expected to gain traction [1][2] A-share Market Outlook - The A-share market is anticipated to focus on two main lines post-holiday: resource products and technology manufacturing [2] - The recent market differentiation is not merely a short-term rotation but reflects a shift in risk preference from high-valuation growth sectors to more comfortable valuation ranges [3] - The strong performance of resource sectors indicates a growing consensus among global investors regarding the strategic value of assets like precious metals and oil amid geopolitical risks and a weak dollar [5] Economic and Industry Fundamentals - The Chinese economy is at a convergence point between the bottom of the inventory cycle and a new round of industrial upgrades, with industrial profits expected to improve in 2026 [6] - High-tech manufacturing is projected to be a core support for profit recovery, with significant growth in profits expected in sectors like electronic equipment and smart consumer devices [7] - The liquidity environment remains supportive, with a stable monetary policy and a trend of declining risk-free interest rates enhancing the attractiveness of equity assets [7] Long-term Market Drivers - The market's cautious expectations regarding economic growth may lay the groundwork for future recovery, with policies aimed at boosting domestic demand and consumption being prioritized [8] - The ongoing evolution of new industries, particularly in technology, is expected to support long-term growth, with no significant bubbles observed in the technology sector despite recent valuation increases [8] - The market is likely to experience structural revaluation supported by a recovering profit cycle, declining interest rates, and the acceleration of new productive forces transitioning from policy planning to industrial implementation [9]

贸易摩擦方面看，欧洲议会暂停批准欧美贸易协议，在美国法院裁定特朗普关税政策违法之后，欧洲议会的决定极有可能带动 其他国家和地区的反美情绪。特朗普则警告，不遵守与美国贸易协议的国家将面临更高的关税。 百利好特约智昇研究资深分析师辰宇认为，不管贸易摩擦还是中东地缘摩擦都难以令避险情绪降温，黄金价格有望维持强势。 技术面：日线上，日线阳线，显示行情较为强势。同时近期行情上行突破此前震荡调整箱体，有望打开上行空间。指标上，行 情处于20日均线上方运行，多头占优势。日内关注下方5140美元一线支撑。 黄金方面： 近期地缘政治是影响黄金价格走势的关键因素。美国和伊朗的关系非常微妙，特朗普倾向于同伊朗达成协议，不过在美伊磋商 的过程中，美国常常用武力作为压力。美国总统特朗普最新表态，其倾向于与伊朗达成协议，而非战争。不过美国媒体不断渲 染美国对伊朗采取军事行动，且容易陷入长期的战争。叠加印度等国提醒其公民尽快离开伊朗，避险情绪依旧浓厚。 日线上，近期多个交易日行情震荡偏下行，短期有望延续震荡走势。不过行情回调测试20日均线，短期行情存在企稳反弹的机 会。日内关注下方56666一线支撑情况。 原油方面： 原油市场当前依旧是地 ...

2026-02-24 関 货 有 限 公 司 陆地库存趋稳, 浮 仓大幅攀升 -Kpler原油库存数据报告 s Company Limited 图表 9:俄罗斯原油库存 研究员:李云旭 从业资格号 F03141405 投资咨询号 Z0021671 据Kpler数据，2月22日当周，全球全口径（含在途）原油库存相对稳定，全球陆上原油库存小幅回落，但浮仓库存大幅攀升。分地区看，印度 及俄罗斯原油库存增加,中国、中东、欧洲库存回落。 风险提示:Kpler对数据进行回溯调整。 图表 2:全球原油浮仓 图表 1:全球陆上原油库存 十四 2026 - 2025 - 2024 - 2023 - 2022 2026 - 2025 · 2024 - 2023 - 2022 3600000 3550000 180000 35000000 150000 345000 120000 3400000 900000 3350000 33000000 资料来源:Kpler 中信期货研 资料来源:Kpler 中信期货研究 图表 3:全球陆地+浮仓原流 图表 4:全球陆地+海上(含 2024 - 2023 - 2022 - 2023 - 20 ...

Group 1 - The latest gold price is reported at $5206.80 per ounce, showing a significant decline of $41.10 or 0.78% from the previous closing price of $5247.90 per ounce [1] - The opening price today was $5247.50 per ounce, with an intraday high of $5269.40 per ounce and a low of $5164.10 per ounce [1] Group 2 - The geopolitical tension between the U.S. and Iran is escalating, with the U.S. military deploying two aircraft carriers to the Persian Gulf, indicating a potential for military action [3] - Iran's military capabilities include 2000 medium-range ballistic missiles and various advanced weaponry, which provide them with a strong defense against U.S. military pressure [3] - The Strait of Hormuz is a critical geopolitical point, through which 20% of the world's oil is transported, and Iran has threatened to block it, which could disrupt global energy supply chains [3] - Historical context shows that Iran remains wary of U.S. negotiations, recalling the U.S. withdrawal from the 2015 nuclear deal, which led to increased sanctions [3] - The ongoing standoff is tied to national pride and the survival of the Iranian regime, with leaders emphasizing the importance of military strength and national will [3] - The U.S. is cautious about a prolonged conflict, as it could lead to a quagmire that contradicts President Trump's promise to end endless wars [3][4] Group 3 - The next target for gold futures bulls is to close above the key resistance level of $5400.00, while bears aim to push prices below the important support level of $4854.20 [5] - Immediate resistance levels are set at the overnight high of $5198.80 and further at $5250.00, while immediate support levels are at the overnight low of $5120.40 and further down at $5100.00 [5]

(责任编辑：张海蛟) 中国经济网北京2月24日讯 今日，上海国际能源交易中心日间盘原油期货主力合约震荡收高，成交下 降，持仓增加。主力2604合约收报493.3元，涨6.18%或28.7元;成交量为57134手;持仓为39124手，日盘 持仓增加1587手。 隔夜，WTI原油期货4月合约收跌0.26%，报66.31美元/桶。 ...

分区域来看，吉林、辽宁、内蒙古、安徽、江苏、江西、广东、山西、河南汽油批发价格上涨，新疆、 重庆、海南汽油批发价格下跌；辽宁、甘肃柴油批发价格上涨，黑龙江、内蒙古、江苏、上海、江西、 海南、天津、山西、河南柴油批发价格下跌。山东地炼方面，汽油价格持稳，柴油价格小幅下跌。 中国汽、柴油批发价格由中国经济信息社-中国石油经济技术研究院"能源大数据实验室"联合上海石油 天然气交易中心发布，基于对全国范围内主要经营单位和社会经营单位（不含炼厂）的批发价格数据采 集并计算形成，是反映中国汽、柴油批发市场整体情况的权威产品。 （文章来源：新华财经） 新华财经北京2月24日电中国汽、柴油批发价格显示，2月14日，中国汽、柴油批发价格整体"汽涨柴 稳"。全国92#汽油平均批发价格为7451元／吨，较前一日上涨8元／吨；柴油（含低凝点）平均批发价 格为6066元／吨，与前一日持平。 从市场整体情况来看，2月13日国际原油期货价格微涨，一揽子原油平均价格变化率正向运行，消息面 整体偏于利好。本月销售周期较短，经营单位为刺激出货，实际成交优惠政策宽松，其中汽油价格相对 坚挺。 ...

2026年2月24日，通源石油开盘仅约1分钟即拉升至20%涨停板，石油板块相关个股集体走强，油服工 程、页岩气、天然气等细分板块同步上行，板块内多只个股快速封板，市场交易活跃度显著提升。 国金证券指出，原油市场当前脱离供需，转为地缘政治风险驱动，预计未来一个月内价格的高波动率将 不可避免，在美伊局势尚未明朗化前，原油价格处于易涨难跌的状态。信达证券称，2026年原油基本面 见底有望，油价中枢有望在多重因素制衡下，维持在55美元/桶—65美元/桶的区间内宽幅震荡，在供给 格局优化、需求稳步复苏背景下，炼化行业有望迎来景气上行周期。 产业链梳理： 中下游化工环节，以原油为原料生产各类化工产品，油价上涨将推高原材料成本，同时也可能带动化工 品价格同步上行，国内产业反内卷政策导向下，中下游化工企业可依托产业格局优化实现高质量发展， 部分企业聚焦高端化工产品研发以提升产品附加值，强化市场竞争力。 市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 本文源自：市场资讯 上游油气资源环节，涵盖油气勘探开发、油气田运营等业务，相关企业依托已探明油气储量开展开采作 业，地缘局势变化及油价波动将 ...

Group 1 - The core viewpoint of the article highlights the significant rise in spot gold prices, which reached $5200 per ounce, driven by geopolitical tensions between the U.S. and Iran, and the subsequent impact on precious metals and oil prices [1] - The article notes that the ongoing negotiations between the U.S. and Iran have not reached a resolution, leading to a deterioration in the situation and a continuous increase in the price of London gold [1] - The long-term trend for gold remains strong, supported by factors such as monetary expansion, fiscal deficit monetization, and increasing demand for gold as a safe asset amid global geopolitical instability [1] Group 2 - The article emphasizes the potential for continued upward momentum in precious metals, industrial metals, and crude oil, driven by the pricing logic in the commodity market [1] - It suggests that the trend of "de-dollarization" globally may position gold as a new pricing anchor, enhancing its appeal as a reserve asset [1] - The combination of a Federal Reserve interest rate cut cycle, increased overseas uncertainties, and the global trend of de-dollarization continues to support gold prices [1]