来源：芝麻AI 美国能源部长赖特表示，对委内瑞拉石油的"禁令"实质上已解除，这是一个历史性转折点[12]，并计划 会见委内瑞拉石油生产商，访问期间将直接与委内瑞拉临时领导层接触及部分油田[13][14][15]。 美国至2月6日当周EIA原油库存录得853万桶，远超预期的79.3万桶，前值为-345.5万桶[16]。 三、宏观与市场影响 美国众议院以219票对211票通过决议，终止特朗普实施的对加拿大关税措施[17]。 一、贵金属期货 纽约期金日内呈现震荡走势，先是突破5120美元/盎司，日内涨0.43%[1]，随后失守5100美元/盎司，日 内转为微涨0.02%[2]，接着进一步下探至5090美元/盎司（日内跌0.18%）[3]、5080美元/盎司（日内跌 0.39%）[4]。 现货黄金同步波动，曾突破5100美元/盎司，日内涨0.31%[5]，随后相继失守5080美元/盎司（日内跌 0.14%）[6]、5070美元/盎司（日内跌0.28%）[7]、5060美元/盎司（日内跌0.55%）[8]。 此外，现货白银突破85美元/盎司，日内涨0.69%[9]，纽约期银同步突破85美元/盎司，日内涨0.55% [1 ...

每经AI快讯，当地时间2月11日，美油主力合约收涨1.45%，报64.89美元/桶；布油主力合约涨1.25%， 报69.66美元/桶。 ...

Group 1 - The core viewpoint of the article indicates that the futures market for asphalt is experiencing fluctuations, with the main contract closing at 3358, reflecting a 0.51% increase from the previous day [29][30] - The current high-end price for heavy asphalt in East China is 3350 yuan/ton, remaining stable, while the low-end price is 3260 yuan/ton, also unchanged, indicating a relatively stable market as the domestic Spring Festival approaches [29][30] - Short-term price movements are influenced by geopolitical changes and market risk preferences, particularly regarding the U.S.-Iran situation, which could lead to increased oil prices and subsequently affect asphalt prices [29][30] Group 2 - Venezuela's state-owned oil company PDVSA has reportedly restored production in the Orinoco heavy oil belt, pushing the country's total crude oil output close to 1 million barrels per day, which may increase competition among Chinese buyers [29][30] - The strategy since January 5 remains unchanged, focusing on near-month oil contracts while monitoring geopolitical developments, and suggesting that the June contract has potential for bullish positions after geopolitical factors subside [30][31] - The first quarter is expected to return to a loose fundamental environment for crude oil, recommending a 3-6 month spread strategy and advocating for long positions in the BU-Brent crack spread based on market conditions [30][31]

热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 来源：能源研发中心 | 讲 | | | | 期货主力合约 | | | --- | --- | --- | --- | --- | --- | | | | 收盘价 | 涨跌幅% | 持仓量 | 持仓走势 | | सिर् 每 | 中国SC原油期货 | 479.80 | 0.82 | 45023 | | | H | 美国WT原油期货 | 64.63 | 1.05 | 144000 | | | 信 | 英国BRENT原油期货 | 69.40 | 0.87 | 540674 | | | ਜਿੰ | 美国RBOB汽油期货 | 1.9780 | 0.96 | 115000 | | | | 英国ICE柴油期货 | 695.25 | 2.17 | 197784 | | 后市观点 周三油价一度大涨，布伦特原油再次冲上70美元关口，最大涨幅一度近3%，冲高后日内又出现大幅回 落，最终涨幅为日内高点一半左右，这样的表现再次显示市场分歧较大。 地缘因素再次引发市场焦虑，特朗普强调将继续与伊朗谈判，但是美伊立场诉求的差异明显，市场对于 谈判前景普遍预期偏悲观。若美伊谈判 ...

中新网2月12日电据美联社报道，当地时间11日，美国能源部长赖特抵达委内瑞拉，对该国石油行业进 行实地考察。 据报道，赖特在委内瑞拉首都加拉加斯，与委内瑞拉代总统罗德里格斯进行了会晤。 报道称，预计赖特在为期三天的访问期间，还将与委内瑞拉政府官员、石油企业高管及其他人士会面。 （文章来源：中国新闻网） 图片来源：美联社报道截图 ...

Core Insights - The main focus of Ecopetrol is on energy transition projects and the industry environment, with significant developments expected by February 2026 [1] Company Project Progress - The green hydrogen production project at the Cartagena refinery has entered a critical construction phase, expected to be operational in the first half of 2026. The total investment for this project is approximately $28.5 million, utilizing proton exchange membrane electrolysis technology, with a planned annual production of 800 tons of green hydrogen and a reduction of about 7,700 tons of CO2 emissions [2] Strategic Advancement - As part of its 2040 strategy, the company plans to invest over $200 million in green hydrogen and carbon capture projects over the next three years to advance its renewable energy business [3] Industry Policy and Environment - OPEC+ has decided to maintain the current production levels, continuing the suspension of production increases into March 2026, which may indirectly impact global oil prices and the operating environment for oil companies [4]

作者：严谨（中国现代国际关系研究院拉美研究所所长助理、副研究员，中国古巴友好协会理事） 如果无法让古巴成为"政治孤岛"，那就先让它成为"能源孤岛"——特朗普政府正在这么干。 2月8日晚，古巴政府通过航行通告系统通知各航空公司，该国自10日起无法提供航空燃油，通告有效期 长达一个月。美国近期不断升级对古石油封锁，让古巴再次面临严峻的石油供应危机，一些国际航空公 司正暂停飞往古巴的航班。 在美国封锁下，古巴自去年12月中旬起便再无委内瑞拉石油供应。今年1月29日，美国政府又以古巴构 成所谓"国家安全威胁"为由，威胁对所有向古巴供应原油的国家输美商品加征从价关税，彻底切断其石 油进口渠道。 美国政府的石油封锁措施，构成"新门罗主义"之下美国绞杀拉美左翼、全面管控西半球战略的关键一 环。一方面，美国意图以"次级关税"胁迫更多供油国加入对古巴制裁行列，将这个加勒比岛国变成"能 源孤岛"，精准打击古巴的能源软肋；另一方面，通过窒息经济、扰乱民生，美国政府图谋在古巴诱发 社会动荡，胁迫古巴屈从美国的要求。 新一轮石油封锁进一步扩展了制裁的对象和边界，不仅试图胁迫更多国家加入"禁运联盟"，更企图将古 巴完全隔绝在国际经济、金 ...

市场分析师们正用放大镜审视着每个细节。美国能源信息署(EIA)最新报告显示，2026年全球原油库存可能突破10亿桶大关，供需失衡的阴影始 终挥之不去。但地缘政治的蝴蝶效应正在改写游戏规则——伊朗核设施遇袭传闻、沙特阿美油田维护计划、委内瑞拉制裁松动的多重变量，让 油价预测变得如同在迷雾中航行。值得关注的是，俄罗斯"影子船队"正在通过非洲港口转运原油，这种"游击战术"能否突破欧盟制裁尚存悬念。 在加油站排队的长龙里，车主们的情绪如同油价曲线般起伏。有人翻出手机计算器反复核算涨幅，有人对着油价牌摇头苦笑，更有人开始研究 电动车补贴政策。这种集体焦虑背后，折射出能源转型期的深层阵痛。当国际油价在60-70美元区间反复拉锯，国内成品油调价机制既要平衡市 场规律，又要兼顾民生诉求，这场多方博弈的终章远未到来。 国际原油市场正上演着惊心动魄的"冰火两重天"。美伊关系的剑拔弩张让霍尔木兹海峡运输通道随时可能"断流"，欧盟对俄罗斯能源制裁的升级 更让全球供应链雪上加霜。2月10日美原油单日飙升1.45%至64.42美元/桶，布伦特原油同步突破69美元关口，地缘风险溢价如同滚烫的岩浆注入 市场。但戏剧性转折在次日降临，美元指数 ...

美国此次出台的许可证限制，背后是一套环环相扣的掌控措施：一方面垄断委内瑞拉石油的物流通道， 限定其石油出口航线流向美国或其监管的储油点；另一方面严格控制资金流向，要求委内瑞拉石油销售 收益存入美国指定账户，资金用途完全由美方决定，委内瑞拉政府仅能在美方许可下动用部分资金。美 国副总统万斯曾直言，控制委内瑞拉的关键就是"掌控其财政"，而石油作为委内瑞拉的主要收入来源， 自然成为美方重点掌控的对象。 值得关注的是，这一许可证限制出台后，已对全球能源格局和相关国家产生连锁影响。中国作为过去多 年委内瑞拉石油的主要买家之一，在美方出台限制后，已暂停进口委内瑞拉原油，以此回应美方的不合 理要求。事实上，委内瑞拉原油在中国整体石油进口中占比不到3%，即便完全停购，缺口也可通过俄 罗斯、加拿大、中东等其他产油国轻松补上，这也让美方试图通过限制交易倒逼中国妥协的算盘落空。 美国财政部发布的委内瑞拉石油许可证禁止与俄罗斯、伊朗、朝鲜、古巴相关人员进行交易，中国相关 人员也适用此规定。 据美国财政部外国资产控制办公室（OFAC）发布的文件显示，美国财政部发布的委内瑞拉石油许可证 禁止与俄罗斯、伊朗、朝鲜、古巴及中国的相关人员进行 ...

Core Viewpoint - The article discusses the marginal improvement in domestic prices as of January 2025, driven by input factors and anti-involution policies, while still remaining at low levels. It anticipates the potential for expanding domestic demand and monetary easing measures [1][9]. Group 1: CPI Analysis - In January, the CPI increased by 0.2% year-on-year, a decrease of 0.6 percentage points from the previous month, influenced by last year's high base and weak domestic demand [5][10]. - Food prices fell by 0.7% year-on-year, with pork prices down 13.7%, indicating a significant decline in demand [5][10]. - Core CPI rose by 0.8% year-on-year, but this was a decrease of 0.4 percentage points from the previous month, reflecting weak service price growth [12]. Group 2: PPI Analysis - The PPI decreased by 1.4% year-on-year in January, but the decline was less severe than in December, indicating a narrowing of the drop [6][21]. - Input factors have led to price increases in upstream industries, particularly in non-ferrous metals, while downstream sectors remain weak due to insufficient demand [21][24]. - The PPI is expected to recover more significantly, driven by anti-involution policies and geopolitical factors affecting commodity prices [8][21]. Group 3: Future Outlook - The article forecasts a moderate recovery in prices, supported by policies such as the "old-for-new" consumption incentive, adjustments in pig production capacity, and international gold price trends [8][9]. - The central bank's monetary policy is expected to remain accommodative, with potential for interest rate cuts and reserve requirement ratio reductions to stimulate demand [27][30]. - The overall economic environment is characterized by a strong supply but weak demand, necessitating continued efforts to stabilize market expectations and enhance domestic momentum [30][31]. Group 4: Pig Cycle Analysis - The pig price in January showed a year-on-year decline of 13.7%, but the rate of decline has narrowed, indicating a potential bottoming out of the cycle [16][17]. - The current pig cycle is still in a downward trend, with production capacity adjustments beginning but not yet sufficient to drive a significant price recovery [16][17]. - The industry is experiencing increased concentration, which may lead to reduced price volatility in future cycles compared to traditional patterns [18]. Group 5: Monetary Policy Insights - The central bank's Q4 report emphasizes the need for a flexible and effective monetary policy, with a focus on using tools like interest rate cuts to support economic recovery [27][30]. - There is a notable increase in household deposits moving towards wealth management products, indicating a shift in investment preferences that could impact bank liquidity [29][35]. - Loan interest rates continue to decline, with the weighted average rate at 3.15%, reflecting ongoing efforts to lower financing costs for the economy [29][36]. Group 6: Exchange Rate Dynamics - The RMB has strengthened, reaching a midpoint of 6.91 against the USD, creating a favorable environment for capital inflows and policy flexibility [38]. - The anticipated easing of US monetary policy may further enhance China's economic positioning and open up additional policy space [38].