{"id":50576,"date":"2026-05-22T11:32:21","date_gmt":"2026-05-22T11:32:21","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/47925\/"},"modified":"2026-05-22T11:32:21","modified_gmt":"2026-05-22T11:32:21","slug":"%e6%b2%b9%e5%83%b9%e4%b8%8b%e8%b7%8c%ef%bc%8c%e7%be%8e%e4%bc%8a%e5%8d%94%e8%ad%b0%e6%86%a7%e6%86%ac%e8%93%8b%e9%81%8e%e5%ba%ab%e5%ad%98%e6%94%b6%e7%b7%8a%e5%8f%8a%e5%87%ba%e5%8f%a3%e5%b8%b6%e5%8b%95","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/zh-ca\/live-updates\/50576\/","title":{"rendered":"\u6cb9\u50f9\u4e0b\u8dcc\uff0c\u7f8e\u4f0a\u5354\u8b70\u61a7\u61ac\u84cb\u904e\u5eab\u5b58\u6536\u7dca\u53ca\u51fa\u53e3\u5e36\u52d5\u7684\u6b77\u4f86\u6700\u5927\u5e45\u5ea6\u6e1b\u5eab"},"content":{"rendered":"

\u6cb9\u50f9\u4e0b\u8dcc\uff0c\u5118\u7ba1\u7f8e\u570b\u6578\u64da\u986f\u793a\u4f9b\u61c9\u6b63\u8da8\u5411\u7dca\u5f35\u3002\u5e02\u5834\u7126\u9ede\u8f49\u5411\u7f8e\u4f0a\u53ef\u80fd\u9054\u6210\u5354\u8b70\uff0c\u4ee5\u53ca\u6709\u5831\u9053\u6307\u66f4\u591a\u539f\u6cb9\u6cb9\u8f2a\u6b63\u901a\u904e\u970d\u723e\u6728\u8332\u6d77\u5cfd\uff08Strait of Hormuz\uff0c\u9023\u63a5\u6ce2\u65af\u7063\u8207\u5916\u6d77\u3001\u5168\u7403\u91cd\u8981\u77f3\u6cb9\u822a\u9053\uff09\u3002<\/p>\n

\u7f8e\u570b\u80fd\u6e90\u8cc7\u8a0a\u7f72\uff08EIA\uff0cEnergy Information Administration\uff0c\u7f8e\u570b\u5b98\u65b9\u80fd\u6e90\u6578\u64da\u6a5f\u69cb\uff09\u6578\u64da\u986f\u793a\uff0c\u7f8e\u570b\u539f\u6cb9\u5eab\u5b58\u6309\u5468\u9304\u5f97\u6b77\u4f86\u6700\u5927\u8dcc\u5e45\uff0c\u7576\u4e2d\u5305\u62ec\u52d5\u7528\u6230\u7565\u77f3\u6cb9\u5132\u5099\uff08SPR\uff0cStrategic Petroleum Reserve\uff0c\u7f8e\u570b\u653f\u5e9c\u7dca\u6025\u539f\u6cb9\u5132\u5099\uff09\u7684\u63d0\u53d6\u91cf\u3002\u4e0a\u5468\u7f8e\u570b\u539f\u6cb9\u53ca\u6210\u54c1\u6cb9\uff08refined products\uff0c\u5373\u6c7d\u6cb9\u3001\u67f4\u6cb9\u7b49\u7531\u539f\u6cb9\u63d0\u7149\u51fa\u7684\u71c3\u6599\uff09\u51fa\u53e3\u4ecd\u9ad8\u65bc\u6bcf\u65e51,300\u842c\u6876\uff08m b\/d\uff0cmillion barrels per day\uff0c\u5373\u300c\u6bcf\u65e5\u767e\u842c\u6876\u300d\uff09\u3002<\/p>\n

Market Sentiment Versus Physical Data<\/h3>\n

\u4e0a\u8ff0\u51fa\u53e3\u6c34\u5e73\u9ad8\u65bc\u4eca\u5e74\u521d\u81f3\u4f0a\u6717\u6230\u4e8b\u958b\u59cb\u524d\u7684\u5e73\u5747\u6bcf\u65e51,110\u842c\u6876\u3002\u6c7d\u6cb9\u5eab\u5b58\u8dcc\u81f3\u81ea2014\u5e74\u4ee5\u4f86\u7684\u5b63\u7bc0\u6027\u6700\u4f4e\u6c34\u5e73\u3002<\/p>\n

\u6c7d\u6cb9\u5eab\u5b58\u504f\u4f4e\uff0c\u88ab\u8a8d\u70ba\u6709\u5229\u6c7d\u6cb9\u7684\u7149\u6cb9\u5229\u6f64\uff08refining margins\uff0c\u5373\u7149\u6cb9\u5ee0\u628a\u539f\u6cb9\u52a0\u5de5\u6210\u6c7d\u6cb9\u7b49\u7522\u54c1\u5f8c\u7684\u5229\u6f64\u7a7a\u9593\uff09\uff0c\u56e0\u5317\u7f8e\u590f\u5b63\u99d5\u99db\u65fa\u5b63\u5c07\u81f3\u3002\u6587\u7ae0\u6307\u51fa\u5167\u5bb9\u7531AI\u5de5\u5177\u5354\u52a9\u88fd\u4f5c\uff0c\u4e26\u7d93\u7de8\u8f2f\u5be9\u95b1\u3002<\/p>\n

\u6211\u5011\u770b\u5230\u5e02\u5834\u60c5\u7dd2\u8207\u5be6\u9ad4\u5e02\u5834\u6578\u64da\uff08physical market data\uff0c\u5373\u5be6\u969b\u5eab\u5b58\u3001\u51fa\u8ca8\u3001\u4f9b\u9700\u6d41\u91cf\u7b49\uff09\u660e\u986f\u80cc\u99b3\uff1a\u5e02\u5834\u4e3b\u8981\u805a\u7126\u7f8e\u4f0a\u53ef\u80fd\u9054\u6210\u5354\u8b70\uff1b\u4f46\u5be6\u969b\u6578\u5b57\u986f\u793a\u7f8e\u570b\u5eab\u5b58\u6b63\u6536\u7dca\u3002\u9019\u7a2e\u5206\u6b67\u610f\u5473\u76ee\u524d\u50f9\u683c\u504f\u5f31\uff0c\u672a\u5fc5\u6709\u57fa\u672c\u9762\uff08fundamentals\uff0c\u5373\u4f9b\u9700\u3001\u5eab\u5b58\u3001\u7522\u80fd\u7b49\u6838\u5fc3\u56e0\u7d20\uff09\u652f\u6301\u3002<\/p>\n

\u6700\u503c\u5f97\u7559\u610f\u7684\u8a0a\u865f\u5728\u6210\u54c1\u6cb9\uff0c\u5c24\u5176\u81e8\u8fd1\u590f\u5b63\u99d5\u99db\u65fa\u5b63\u3002EIA\u6578\u64da\u986f\u793a\uff0c\u300c\u5e02\u5834\u4f9b\u61c9\u91cf\u300d\uff08product supplied\uff0c\u5e38\u7528\u4f5c\u53cd\u6620\u9700\u6c42\u7684\u6307\u6a19\uff09\u5df2\u56de\u5347\u4e26\u4f01\u7a69\u65bc\u6bcf\u65e5910\u842c\u6876\u4ee5\u4e0a\uff1b\u540c\u6642\u6c7d\u6cb9\u5eab\u5b58\u8655\u65bc\u903e\u5341\u5e74\u6700\u4f4e\u5b63\u7bc0\u6027\u6c34\u5e73\uff0c\u4ee4\u4f9b\u61c9\u7dca\u5f35\u66f4\u7a81\u51fa\u3002\u9019\u7a2e\u57fa\u672c\u9762\u504f\u7dca\uff0c\u50be\u5411\u652f\u6301\u6c7d\u6cb9\u671f\u8ca8\uff08futures\uff0c\u5373\u6a19\u6e96\u5316\u7684\u8cb7\u8ce3\u5408\u7d04\uff09\u50f9\u683c\uff0c\u4ee5\u53ca\u63a8\u5347\u7149\u6cb9\u5229\u6f64\u3002<\/p>\n

Exports And Strategic Reserves<\/h3>\n

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\u9451\u65bc\u5730\u7de3\u653f\u6cbb\u8ac7\u5224\u5e36\u4f86\u7684\u65b0\u805e\u98a8\u96aa\uff08headline risk\uff0c\u5373\u6d88\u606f\u4e00\u51fa\u5373\u5f15\u767c\u50f9\u683c\u6025\u6ce2\u52d5\uff09\uff0c\u53ef\u8003\u616e\u7528\u671f\u6b0a\uff08options\uff0c\u5373\u4ed8\u6b0a\u5229\u91d1\u5f8c\u7372\u5f97\u5728\u6307\u5b9a\u6642\u9593\u4ee5\u6307\u5b9a\u50f9\u683c\u8cb7\u5165\u6216\u8ce3\u51fa\u8cc7\u7522\u7684\u6b0a\u5229\uff09\u90e8\u7f72\u57fa\u672c\u9762\u5e36\u52d5\u7684\u53cd\u5f48\u3002\u8cb7\u5165\u770b\u6f32\u671f\u6b0a\uff08call options\uff0c\u5373\u62bc\u6ce8\u50f9\u683c\u4e0a\u5347\u7684\u671f\u6b0a\uff09\u53ef\u5728\u6f5b\u5728\u5347\u5e02\u4e2d\u53d7\u60e0\uff0c\u540c\u6642\u628a\u98a8\u96aa\u9650\u5236\u5728\u5df2\u4ed8\u6b0a\u5229\u91d1\u4e4b\u5167\uff0c\u4ee5\u9632\u5916\u4ea4\u6d88\u606f\u4ee4\u5e02\u6cc1\u518d\u4e0b\u632b\u3002<\/p>\n

\u958b\u7acb VT Markets \u5be6\u76e4\u6236\u53e3<\/a>\u00a0\u4e26\u00a0\u7acb\u5373\u958b\u59cb\u4ea4\u6613<\/a>\u3002 <\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

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