-- 德國商業銀行週二在一份報告中指出,在伊朗戰爭和霍爾木茲海峽關閉的背景下,原油一直是許多人關注的焦點,但精煉油產品,尤其是航空燃油的短缺問題尤其嚴重。 該銀行指出,從國際機場協會和國際航空運輸協會到歐洲經濟,關於航空燃料短缺的警告日益增加。 國際能源總署對歐洲航空燃油市場進行了調查,發現供應極度緊張。至2025年,歐洲經合組織國家的航空燃油需求量將達到每日160萬桶,其中國內產量僅能滿足每日110萬桶的需求。 由此產生的淨進口需求中約有75%由海灣地區滿足,但該地區目前由於霍爾木茲海峽航運中斷而面臨壓力。 國際能源總署也指出,航空燃油庫存水準大幅下降。德國商業銀行表示,由於中東地區的供應中斷且缺乏足夠的替代,庫存面臨進一步下降的風險,尤其是在未來幾個月需求預計將上升的情況下。 歐盟計劃於週三提交一份提案草案,以應對航空燃油短缺問題,並防止即將實施的航空旅行限制。該銀行引述路透社的報告稱,預計下個月將推出歐盟範圍內的煉油產能分佈圖。 此外,還將推出措施以確保煉油產能的充分利用和維護。然而,德國商業銀行表示,由於許多煉油廠已經滿載運轉,這些措施可能收效甚微。
Related Articles
Research Alert: CFRA Keeps Hold Opinion On Shares Of Otis Worldwide Corporation
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We cut our 12-month target to $90 from $100 following Q1 earnings, valuing OTIS shares at 19.6x our 2027 EPS outlook of $4.58 (down from $4.70; 2026 EPS view updated to $4.18 from $4.25), a modest discount to industrial machinery peers' and OTIS's five-year forward multiple average given unclear timing of ongoing margin headwinds. Service margins were disappointing in Q1 (contracting 160 bps to 23%) amid higher labor and material costs that came in above pricing. Weakness in China has yet to stabilize, though as noted in the past, this represents a shrinking area of OTIS's portfolio and will have a more limited effect going forward. Overall, the latest quarter was more of the same (China weakness/New Equipment decline), though with the added concern of margin quality being pressured within Service - the core profit driver for OTIS overall. While efforts to shore up profitability are underway, we see timing of recovery being uncertain.
Saudi Shares Start Week Higher; US-Iran Peace Talks Canceled
The Tadawul All Share Index closed Sunday 0.11% higher as investors assessed the latest updates regarding the conflict in the Middle East.US President Donald Trump said on his Truth Social account that the Pakistani trip for his envoys, Steve Witkoff and Jared Kushner, was canceled. The announcement dimmed the hopes for peace talks between Iran and the US to happen any time soon.Further to this, Israel launched an attack in Lebanon on April 25. The strikes, which targeted Hezbollah, resulted in four casualties and facility damage in Southern Lebanon.Back at home, Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, and Thob Al Aseel (SASE:4012) posted their financial results for the three months ended March 31. Petro Rabigh emerged from a loss in the first quarter, while Thob Al Aseel logged a higher net profit and revenue."The reason for net profit reported during the current quarter compared to a net loss recorded in the same quarter of last year was primarily attributable to improved product margins resulting from stronger refined product pricing and higher sales volumes," Petro Rabigh said in its report.Petro Rabigh rose 10% at closing, while Thob Al Aseel ticked down 1.59%.Meanwhile, the local calendar will be mostly empty except for the kingdom's preliminary figures for its GDP growth rate for the first quarter and the M3 money supply and private bank lending data for March on Thursday.
Research Alert: CFRA Maintains Hold Rating On Shares Of United Rentals Inc.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our 12-month target price to $1,100 from $950 following a strong first quarter, valuing shares at 20.5x our 2027 EPS outlook of $54.28 (in line with previous estimate; 2026 EPS also in line). We believe a higher multiple is justified given URI's firming market leadership within an expanding rental equipment industry. A robust Q1 beat enabled URI to raise its full-year revenue guidance to $16.9B-$17.4B and adjusted EBITDA to $7.625B-$7.875B, citing momentum heading into a busy season. With leverage well below historical levels, we believe accretive M&A deals could serve as a potential catalyst for additional guidance increases. Margin compression has been a sticky issue for URI, but Q1 indicated that pricing may have turned around and that headwinds are starting to ease as quarterly results begin to lap when tariff-related inflation began to pick-up. We remain cautious on margins, though are encouraged by signs of stabilization. New project activity is likely supporting pricing trends, in our view.