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FINWIRES

歐洲、中東和非洲地區石油市場動態:外交斡旋抵銷戰爭溢價,原油價格上漲

-- 週三,原油期貨合約上漲約1%,從早盤的跌勢中反彈,交易員們正在權衡美國就霍爾木茲海峽問題發出的最新外交訊號。 近月穆爾班原油期貨合約上漲0.8%,至每桶101.73美元。布蘭特原油期貨合約上漲1%,至每桶95.72美元。 美國總統唐納德·特朗普在Truth Social網站上發帖稱:“中國非常高興我永久開放霍爾木茲海峽。” 能源市場在經歷了一段波動期後,已顯現出穩定跡象。澳新銀行分析師指出,有關美伊第二輪和平談判的報道有助於抑制早盤的飆升。 分析師表示,有報告指出伊朗可能暫停海上運輸以避免海上衝突,這可能為在停火期限到期前重啟談判鋪平道路,這提振了市場情緒。 這些旨在延長將於4月22日到期的現有停火協議的會談預計將在未來幾天於伊斯蘭堡舉行。 SEB分析師表示,川普在接受福克斯商業頻道採訪時表示戰爭“即將結束”,這提振了市場情緒。 總統在Truth Social網站上強調了這些言論,SEB分析師認為,這促使市場將潛在的緩和局勢預期計入價格。 盛寶銀行分析師指出,布蘭特原油跌破100美元關卡反映出市場樂觀情緒日益高漲。

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Fortescue Faces Pressure From Iron Bridge Weakness, Green Energy Shift, Jefferies Says

Fortescue (ASX:FMG) reported softer quarterly performance alongside ongoing challenges at Iron Bridge and increased spending on non-core green energy projects, raising concerns over returns and valuation, Jefferies said in an April 24 note.The company reported a softer quarter due to seasonal and weather impacts, with solid performance from its Pilbara hematite operations offset by ongoing underperformance at the Iron Bridge magnetite project, which continues to face throughput and margin challenges and may struggle to justify its value.Jefferies noted that the company's $680 million investment in green energy capacity for third-party customers, such as industrial users and data centers, represents a strategic shift, but views it as non-core capital allocation that may justify a higher discount rate for its mining business until clearer returns emerge.The equity research firm said that the company's Pilbara system is nearing port capacity constraints, a "good problem" that may allow higher-margin hematite production to displace costlier Iron Bridge volumes, as the company reviews its portfolio, trims Iron Bridge output, and keeps overall shipment guidance broadly unchanged.The research firm added that the company remains financially solid with $4.2 billion in cash despite dividends and capital expenditure outflows and is expected to return to a net cash position longer term, but highlighted Iron Bridge uncertainty and higher green energy spending as risks, including a potential write-down, supporting a cautious outlook.Jefferies maintained an underperform rating on Fortescue and reduced the price target to AU$16.50 from AU$17.50.

$ASX:FMG
Research

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.

$OTIS
Asia Markets

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.

$^TASI$SASE:2380$SASE:4012