據(jù)美國彭博社新聞社5月27日報道，美國石油市場在強勁需求的支持下顯示出明顯的緊縮跡象，這引發(fā)了一個問題，即美國蓬勃發(fā)展的原油出口是否會放緩。

　　衡量美國市場強弱的兩個關(guān)鍵指標(biāo)本周升至數(shù)月來最高水平，暗示現(xiàn)貨供應(yīng)變得更加緊張，交易商愿意支付溢價以獲得更直接的原油供應(yīng)。

　　這進而導(dǎo)致西德克薩斯中質(zhì)原油(WTI)相對于全球基準(zhǔn)布倫特原油價格上漲。幾位美國石油交易商表示，WTI對所有目的地的出口都可能下滑，尤其是對歐洲，因為如果利差持續(xù)收窄，這將意味著WTI失去競爭力。

　　渣打銀行大宗商品研究主管Paul Horsnell表示：“套利窗口似乎確實關(guān)閉了一點。所以如果持續(xù)下去，應(yīng)該會減少原油出口量。”

　　本周，西得克薩斯中質(zhì)原油期貨的月間價差以及實物市場上的類似價差反彈至數(shù)月來的最高水平。此外，美國原油對布倫特原油的貼現(xiàn)率已從一個多月前的每桶逾4美元降至約2.20美元。

　　不斷縮小的不僅僅是WTI和布倫特原油之間的差距。休斯敦的原油交易價格也低于布倫特原油價格，為數(shù)月來最低水平。這是一個受到密切關(guān)注的指標(biāo)，因為它反映的是出口點的石油，而不是俄克拉荷馬州庫的內(nèi)陸儲油中心的石油。

　　盡管美國市場顯示出走強跡象，但布倫特原油可能面臨更多阻力。某波斯灣國家很可能會有大量原油重返全球市場，更多地觸及全球基準(zhǔn)。

　　布倫特原油價格此前也曾受到6月份北海幾個關(guān)鍵油田進入檢修期的利好支撐。隨著7月份布倫特原油期貨價格的上漲，這已經(jīng)不是什么大問題了。

　　據(jù)彭博社匯編的油輪跟蹤數(shù)據(jù)顯示，美國出口商5月份向歐洲發(fā)運的原油貨物達(dá)到9個月以來的最高點，4月底時的原油裝載量增加。

　　李峻 編譯自 彭博社

　　原文如下；

　　Growing U.S. oil demand could crimp booming crude exports

　　The U.S. oil market is showing clear signs of tightening on the back of strengthening demand, raising a question about whether the nation’s booming crude exports could slow.

　　Two key measures of U.S. market strength rallied to the highest levels in months this week, suggesting physical supply is becoming more constrained with traders willing to pay premiums to secure more-immediate barrels.

　　That in turn is helping to make West Texas Intermediate more expensive relative to the global oil price benchmark Brent. Several U.S. oil traders said exports could dip to all destinations -- and in particular to Europe -- because a narrowing spread -- if it persists -- would mean WTI loses competitiveness.

　　“It does seem the arb window has closed a bit,” said Paul Horsnell, head of commodities research at Standard Chartered. “So that should reduce the flow if sustained.”

　　The nearest WTI futures inter-month spread, and its equivalent in the physical market, rallied to the highest levels in months this week. In addition, the U.S. grade’s discount to Brent has shrunk to about $2.20 a barrel, from over $4 in a little more than a month.

　　It’s not just the difference between WTI and Brent that’s been narrowing. Crude at Houston is also trading at its smallest discount to Brent for several months. That’s a closely-watched measure because it reflects oil at the point of export, rather than the inland storage hub of Cushing, Oklahoma.

　　While the U.S. market shows signs of strengthening, Brent may face more headwinds. may well free large volumes of a certain Persian Gulf country’s crude return to the global market, hitting the global benchmark more.

　　Brent crude prices had previously also been supported by heavy maintenance at several key North Sea oil fields in June. That’s becoming less of an issue, with the most immediate Brent futures contract now July.

　　U.S. exporters boosted deliveries to Europe to a 9-month high in May, with loadings weighted toward the end of the April, according to tanker tracking data compiled by Bloomberg.

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