部分中东原油在波斯湾以外地区的实物价格已下跌，生产商和全球贸易商在尽管遭受袭击仍将货物通过霍尔木兹海峡运出方面变得更加熟练。
The physical prices of some Middle East crudes sold outside the Persian Gulf have dropped, with producers and global traders getting more adept at pushing cargoes through the Strait of Hormuz despite attacks.
据收到报价的亚洲炼厂透露，近几天现货牌号的报价数量有所增加，货物以更具竞争力的价格进行推销，上述人士因涉及商业信息而拒绝透露姓名。
The number of offers for spot grades has risen in recent days, with shipments being marketed at more competitive prices, according to Asian refiners who received offers, declining to be named discussing commercial information.
他们表示，在变化的迹象中，一船伊拉克巴士拉中质原油在阿曼湾（霍尔木兹海峡外）以船对船转运方式，按比实物迪拜基准价每桶折价近10美元的价格成交。一个月前，伊拉克巴士拉原油的报价接近与迪拜基准价持平。
Among signs of the shift, a cargo of Iraqi Basrah Medium crude was sold at a discount of almost $10 a barrel to the physical Dubai benchmark on a ship-to-ship transfer basis in the Gulf of Oman, outside Hormuz, they said. A month ago, Iraqi Basrah was offered at near parity to Dubai, they said.
随着美伊战争进入第八个月尾声，全球石油市场仍密切关注霍尔木兹海峡的运输情况——该海峡连接波斯湾与全球市场。在美国11月中期选举前夕，德黑兰似乎加大了对航运的袭击力度。与此同时，唐纳德·特朗普总统表示，离开该地区的原油比冲突前更多。
The global oil market remains zeroed in on flows through Hormuz — which connects the Persian Gulf to global markets — as the US-Iran war nears the end of its eighth month. Ahead of US midterm elections in November, Tehran appears to have stepped up assaults on shipping. At the same time, President Donald Trump says more crude is exiting the region than before the conflict.
部分中东实物原油价格的下跌与基准石油期货的走势形成对比。布伦特合约有望实现第三周上涨，周五触及5月以来最高位。实物市场与期货市场之间的差异一直是这场战争的一个特征。
The declines in the prices of some physical Middle Eastern crudes contrast with trends in benchmark oil futures. Brent contracts are on track for a third weekly gain, hitting the highest since May on Friday. Differences between physical and futures markets have been a feature of the war.
“虽然目前中东石油流动保持良好，但市场真正担心的是，随着袭击重燃，这种流动能持续多久，这有助于解释纸货市场与实物市场之间的背离，”荷兰国际集团大宗商品策略主管沃伦·帕特森表示。
“While Middle East flows are holding up well for now, the real concern for the market is how sustainable these would be with renewed attacks, which helps to explain the divergence between the paper and physical market,” said Warren Patterson, head of commodities strategy at ING Groep NV.
他补充道：“目前布伦特期货的上涨并非由基本面驱动，市场交易的是供应风险。”布伦特期货最近逼近每桶115美元，高于一个月前的约103美元。
“The move higher in oil futures is not fundamentally driven at the moment, instead the market is trading supply risks,” he added. Brent futures were last nearing $115 a barrel, up from about $103 a month ago.
据交易商称，伊拉克原油实物桶价与其他牌价一道下滑，是因为竞争性报价日益增多，这些报价附带了能将石油运出海湾的保证。
The slumping prices for physical barrels of Iraqi crude, along with other grades, are due to increasingly competitive offers, which come with assurances of an ability to get oil out of the gulf, according to the traders.
除了围绕伊拉克原油桶的活动外，整体兴趣也有所增加。本周，印度、台湾和韩国的炼厂购买或发布招标，寻求最晚可于2027年初交付的原油。同时，来自沙特-科威特中立区的哈夫吉原油和来自卡塔尔的沙欣原油均已提供最晚至明年1月交付的货源。
In addition to the activity focused on Iraqi barrels, there’s been greater interest overall. This week, refiners in India, Taiwan and South Korea bought or issued tenders for crudes that can be delivered as late as early 2027. Meanwhile, Khafji, from the Saudi-Kuwaiti neutral zone, and Al-Shaheen crude from Qatar have both been offered for deliveries as late as next January.
该地区其他实物牌价因此下跌，包括阿曼原油。阿曼原油相对于迪拜原油的升水最近滑落至三个月低点。从霍尔木兹海峡外输出的穆尔班原油也有所走软。
Other physical grades from the region, including Omani crude, have dropped as a result. The premium for that variety over Dubai recently slid to a three-month low. Murban, which is exported from outside Hormuz, has also softened.