花旗周四表示，尽管海湾原油出口有所恢复，但油价面临的短期风险仍偏向上行，因为航运瓶颈持续令交付供应保持紧张。
Citi said on Thursday that near-term risks to oil prices remain skewed to the upside despite a recovery in Gulf crude exports, as shipping bottlenecks continue to keep delivered supplies tight.
花旗表示：“阿拉伯海湾石油出口的正常化体现在数量上，而非物流上，前所未有的航运低效使交付原油成本居高不下。”9月份，超过100万桶/日的海湾原油出口通过船对船转运完成，相当于该地区流量的约7.5%，而在美伊冲突前几乎为零。花旗称，这一上升凸显了出口复苏背后日益复杂的物流。数据显示，9月份除伊朗外的海湾石油流量升至战前水平的81%以上，其中沙特出口的恢复领涨，尽管该国石油基础设施遭到袭击，且伊朗对该地区航运的袭击不断升级。
"The normalization of Arab Gulf oil exports has been volumetric rather than logistical, with unprecedented shipping inefficiencies keeping delivered crude costs elevated," Citi said More than 1 million barrels per day of Gulf crude exports were moved via ship-to-ship transfers in September, equivalent to about 7.5% of regional flows, compared with virtually none before the US-Iran conflict. Citi said the rise underscored the increasingly complex logistics behind the recovery in exports Gulf oil flows excluding Iran rose to more than 81% of pre-war levels in September, data showed, led by a recovery in Saudi exports despite attacks on the kingdom's oil infrastructure and escalating Iranian attacks on regional shipping.
与此同时，由于美国的封锁，伊朗出口降至零。在美国-以色列于2月底开始袭击伊朗之前，霍尔木兹海峡承担着全球约五分之一的石油和液化天然气供应。花旗表示，海湾-中国航线上超大型原油运输船的运费近期接近每公吨250美元，约合每桶35美元，是过去十年平均水平的20多倍。
Iranian exports, meanwhile, fell to zero because of a US blockade Before US-Israeli attacks on Iran began in late February, the Strait of Hormuz handled about one-fifth of global oil and liquefied natural gas supplies Freight rates for very large crude carriers on the Gulf-China route recently approached $250 per metric ton, or about $35 per barrel, more than 20 times the average level over the previous decade, Citi said