俄罗斯石油卖方已将对华出售的ESPO原油报价推高至历史纪录水平，这得益于强劲需求以及伊朗战争推高运费，尽管部分中国独立炼厂可能因利润转负而却步，交易员称。
Russian oil sellers have raised ESPO Blend offers to China to record levels, supported by strong demand and higher freight costs driven by the Iran war, although some independent Chinese refiners may baulk as margins turn negative, traders said.
交易员称，12月底和1月交货的远东ESPO原油货物报价较洲际交易所（ICE）布伦特原油升水已超过25美元/桶，且听闻有两份报价为到岸中国升水30美元/桶以上。
Far East ESPO Blend cargoes for end-December and January delivery have been offered at premiums above $25 a barrel to ICE Brent, with two offers heard above $30 a barrel delivered to China, traders said.
另一名交易员称，11月和12月货物报价升水26-27美元/桶，仍有少量未售出。一些市场参与者称，中东出口受阻之际，卖方以高额报价试探买方胃口。
November and December cargoes were offered at premiums of $26-$27 a barrel, with a few remaining unsold, another trader said. Some market participants said sellers were testing buyers' appetite with the hefty offers amid disruptions to Middle East exports.
两名交易员称，美国总统特朗普上周五宣布豁免对俄关键制裁也支撑了需求预期，尽管细节仍不清晰。
US President Donald Trump's announcement last Friday of a waiver on key sanctions against Russia also supported demand expectations, although details remain unclear, two traders said.
由于俄罗斯石油以布伦特原油为定价基准，而大多数中东原油品种挂钩迪拜原油，因此俄罗斯石油对亚洲买家而言变得更贵。布伦特原油通常较迪拜原油升水，且该价差已扩大。周四布伦特-迪拜价差收于5.05美元/桶。
Russian oil has become more expensive for Asian buyers because it is priced against Brent, while most Middle East grades are linked to Dubai. Brent typically trades at a premium to Dubai, and that gap has widened. The Brent-Dubai spread settled at $5.05 a barrel on Thursday.
周五油价上涨，布伦特原油触及逾五个月高点、近115美元/桶，此前胡塞武装袭击沙特引发市场担忧中东能源供应进一步中断。
Oil prices rose on Friday, with Brent crude touching a more than five-month high of nearly $115 a barrel, after Houthi attacks in Saudi Arabia stoked concern over further disruption to energy supplies from the Middle East.
两名交易员称，中国炼厂仍愿为ESPO原油支付20美元/桶左右的升水，但不接受最新的纪录高位报价。
Two traders said Chinese refiners were still willing to pay premiums of $20 a barrel for ESPO Blend, but not the latest record high offer levels.
然而，一名资深中国交易员称，近期一家大型独立炼厂以升水ICE布伦特原油23-26美元/桶的价格成交了11月和12月货物，并补充称小型炼厂在这些价位将亏损。路透9月曾报道，11月货物升水为12美元/桶。
However, one recent deal by a large independent Chinese refiner for November and December cargoes was heard at premiums of $23-$26 a barrel to ICE Brent, a senior Chinese trader said, adding that smaller plants would lose money at those levels. That compared with $12 premiums for November shipments Reuters reported in September.
俄罗斯卖方表示，运费上涨推高了ESPO原油价格，并应体现在升水中。交易商称，10月从科兹米诺港运往中国的阿芙拉型油轮运费一度飙升至每航次1000万美元，随后回落至约200万美元，这一跌幅最终可能会迫使ESPO升水下行。
Russian sellers say elevated freight rates have driven up ESPO prices and should be reflected in premiums. Aframax tanker rates from Kozmino to China briefly surged to $10 million per voyage in October before falling to about $2 million, a decline that could eventually pressure ESPO premiums lower, traders said.
俄罗斯乌拉尔原油价格近期走弱，跌至与日期布伦特原油持平，在某些情况下甚至小幅低于该基准，因为主要亚洲买家——印度炼厂——无法承受如此高价，转而寻求替代原油。
Russian Urals oil prices recently weakened to parity with dated Brent and small discounts to the benchmark in some cases as top Asian clients - Indian refiners - were not able to pay such high prices and turned to alternatives.