\u957f\u6c5f\u6709\u8272\u91d1\u5c5e\u7f51\u8baf\uff1a\u6839\u636eBloomberg Opinion\u62a5\u9053\uff0c\u4e2d\u56fd\u5f00\u653e\u5927\u5b97\u5546\u54c1\u5e02\u573a\u7684\u4e0b\u4e00\u6b65\u4e3e\u63aa\uff0c\u53ef\u80fd\u662f\u8fc8\u51fa\u4e86\u4e00\u5927\u6b65\u3002<\/p>\n
\u4ece\u5468\u56db\u5f00\u59cb\uff0c\u6d77\u5916\u6295\u8d44\u8005\u5c06\u53ef\u4ee5\u5728\u4e0a\u6d77\u56fd\u9645\u80fd\u6e90\u4ea4\u6613\u4e2d\u5fc3(Shanghai International Energy Exchange)\u8fdb\u884c\u94dc\u671f\u8d27\u4ea4\u6613\u3002\u8fd9\u5e76\u4e0d\u662f\u7b2c\u4e00\u4e2a\u8fd9\u6837\u7684\u4ea7\u54c1\uff1a2018\u5e743\u6708\u63a8\u51fa\u7684\u4eba\u6c11\u5e01\u8ba1\u4ef7\u539f\u6cb9\u5408\u7ea6\uff0c\u53d6\u5f97\u4e86\u4e00\u5b9a\u7684\u6210\u529f\u3002<\/p>\n
\u968f\u540e\uff0c\u5728\u5927\u8fde\u5efa\u7acb\u4e86\u4e00\u4e2a\u56fd\u9645\u94c1\u77ff\u77f3\u8d38\u6613\u7684\u57fa\u51c6\u3002\u7531\u4e8e\u65f6\u673a\u7684\u5de7\u5408\u3001\u5168\u7403\u5bf9\u7ecf\u6d4e\u9886\u5934\u7f8a\u7684\u5174\u8da3\u4ee5\u53ca\u4e2d\u56fd\u8fd9\u4e2a\u5168\u7403\u6700\u5927\u6d88\u8d39\u56fd\u7684\u7edd\u5bf9\u5f71\u54cd\u529b\uff0c\u94dc\u7684\u8868\u73b0\u53ef\u80fd\u4f1a\u6bd4\u8fd9\u4e9b\u52aa\u529b\u66f4\u4e3a\u62a2\u773c\u3002<\/p>\n
\u4e2d\u56fd\u7684\u96c4\u5fc3\u662f\u660e\u786e\u7684\u3002\u4e2d\u56fd\u5e0c\u671b\u6269\u5927\u5176\u4e3b\u5bfc\u7684\u5927\u5b97\u5546\u54c1\u5e02\u573a\u7684\u5b9a\u4ef7\u6743\uff0c\u7279\u522b\u662f\u5728\u4e2d\u56fd\u8fdb\u53e3\u5927\u5b97\u5546\u54c1\u7684\u60c5\u51b5\u4e0b\u3002\u5b83\u4e0d\u518d\u60f3\u6210\u4e3a\u4ef7\u683c\u63a5\u53d7\u8005\u3002<\/p>\n
\u4e2d\u56fd\u8fd8\u5e0c\u671b\u52a0\u5f3a\u4eba\u6c11\u5e01\u5728\u6d77\u5916\u4ea4\u6613\u4e2d\u7684\u4f7f\u7528\uff0c\u8fd9\u662f\u63d0\u9ad8\u4eba\u6c11\u5e01\u77e5\u540d\u5ea6\u548c\u5f71\u54cd\u529b\u7684\u957f\u671f\u6218\u7565\u7684\u4e00\u90e8\u5206\u3002\u4e0e\u6b64\u540c\u65f6\uff0c\u4e2d\u56fd\u5e0c\u671b\u56fd\u5185\u4f01\u4e1a\u91c7\u53d6\u66f4\u591a\u63aa\u65bd\u4ee5\u5bf9\u51b2\u6ce2\u52a8\u6027\u3002\u5141\u8bb8\u5916\u56fd\u4eba\u4ea4\u6613\u77f3\u6cb9\u548c\u94c1\u77ff\u77f3\uff0c\u4ee5\u53ca\u6a61\u80f6\u3001\u4f4e\u786b\u71c3\u6599\u6cb9\u548c\u7cbe\u5236\u5bf9\u82ef\u4e8c\u7532\u9178\uff08PTA\uff09\uff0c\u4e00\u79cd\u77f3\u5316\u884d\u751f\u7269\uff0c\u5728\u4e00\u5b9a\u7a0b\u5ea6\u4e0a\u5b9e\u73b0\u4e86\u4e0a\u8ff0\u76ee\u6807\u3002<\/p>\n
\u94dc\u6709\u671b\u6210\u4e3a\u66f4\u5927\u7684\u8fdb\u6b65\u3002\u8fd9\u79cd\u91d1\u5c5e\u662f\u4e00\u4e2a\u5173\u952e\u6307\u6807\uff0c\u8868\u660e\u4e00\u4e2a\u7ecf\u6d4e\u4f53\u4ece\u51a0\u72b6\u75c5\u6bd2\u4e2d\u590d\u82cf\u7684\u901f\u5ea6\u8d85\u8fc7\u4e86\u4e16\u754c\u5176\u4ed6\u5730\u533a\u3002\u867d\u7136\u4e0a\u6d77\u671f\u8d27\u4ea4\u6613\u6240\uff08Shanghai Futures Exchange\uff09\u73b0\u6709\u4e00\u4efd\u9488\u5bf9\u672c\u5730\u4ea4\u6613\u5458\u7684\u5408\u7ea6\uff0c\u4f46\u5728\u5b50\u516c\u53f8INE\u4e0a\u4ea4\u6613\u7684\u65b0\u5408\u7ea6\u5c06\u5bf9\u5916\u56fd\u4eba\u5f00\u653e\u3002<\/p>\n
\u5408\u7ea6\u89c4\u6a21\u662f\u4e00\u6837\u7684\uff0c\u4f46\u4e0d\u5305\u62ec\u7a0e\u6536\u548c\u5173\u7a0e\uff0c\u5e76\u5c06\u88ab\u4ea4\u4ed8\u5230\u4fdd\u7a0e\u4ed3\u5e93\uff0c\u5e2e\u52a9\u5b83\u4e0e\u4f26\u6566\u91d1\u5c5e\u4ea4\u6613\u6240(London Metal Exchange)\u79ef\u6781\u7ade\u4e89\u3002<\/p>\n
\u6b63\u5982\u77f3\u6cb9\u5e02\u573a\u6240\u663e\u793a\u7684\u90a3\u6837\uff0c\u57fa\u51c6\u5f88\u96be\u5efa\u7acb\u3002\u653e\u5f03\u73b0\u6709\u7f8e\u5143\u5408\u7ea6(\u5982\u5723\u5f7c\u5f97\u5821\u539f\u6cb9\u4ea4\u6613\u6240(St. Petersburg exchange)\u7684\u4e4c\u62c9\u5c14\u539f\u6cb9(Urals crude))\u7684\u4e3e\u63aa\u5df2\u7ecf\u6b65\u5c65\u8e52\u8dda\u3002\u4e0a\u6d77\u7684\u4eba\u6c11\u5e01\u671f\u8d27\u5408\u7ea6\u662f\u4e2d\u56fd\u5728\u56fd\u9645\u671f\u8d27\u5e02\u573a\u4e0a\u7684\u9996\u4e2a\u4e3e\u63aa\uff0c\u6216\u8bb8\u4e5f\u662f\u6700\u5f15\u4eba\u6ce8\u76ee\u7684\u4e3e\u63aa\u3002<\/p>\n
\u5c3d\u7ba1\u8868\u73b0\u76f8\u5bf9\u8f83\u597d\uff0c\u4f46\u5b83\u8fd8\u6ca1\u6709\u6210\u4e3a\u4e00\u4e2a\u4e0d\u53ef\u6216\u7f3a\u7684\u57fa\u51c6\uff0c\u5728\u6210\u4ea4\u91cf\u65b9\u9762\u4e5f\u6ca1\u6709\u8d76\u4e0a\u5e03\u4f26\u7279\u539f\u6cb9(Brent)\u548c\u897f\u5fb7\u514b\u8428\u65af\u4e2d\u8d28\u539f\u6cb9(West Texas Intermediate)\uff0c\u66f4\u4e0d\u7528\u8bf4\u672a\u5e73\u4ed3\u5408\u7ea6\u4e86\u3002\u6625\u5b63\u51fa\u73b0\u7684\u4ee4\u4eba\u62c5\u5fe7\u7684\u4ef7\u5dee\u8868\u660e\u5e02\u573a\u626d\u66f2\uff0c\u73b0\u5728\u5df2\u7ecf\u91cd\u65b0\u5e73\u8861\u3002<\/p>\n
\u94c1\u77ff\u77f3\u8868\u73b0\u66f4\u597d\u3002\u5728\u8fd9\u91cc\uff0c\u4e2d\u56fd\u5f00\u653e\u4e86\u5927\u8fde\u5546\u54c1\u4ea4\u6613\u6240(Dalian Commodity Exchange)\u73b0\u6709\u7684\u4e00\u4efd\u5408\u7ea6\uff0c\u8be5\u5408\u7ea6\u672c\u5df2\u662f\u4e2d\u56fd\u6d41\u52a8\u6027\u6700\u5f3a\u7684\u884d\u751f\u54c1\u4e4b\u4e00\u3002\u867d\u7136\u4e2d\u56fd\u7684\u77f3\u6cb9\u6d88\u8d39\u91cf\u7ea6\u5360\u5168\u7403\u768414%\uff0c\u4f46\u5b83\u662f\u5168\u7403\u6700\u5927\u7684\u94a2\u94c1\u751f\u4ea7\u56fd\u3002\u53bb\u5e74\uff0c\u5927\u8fde\u7684\u6d77\u8fd0\u73b0\u8d27\u4ea4\u6613\u91cf\u8d85\u8fc730\u500d\u3002\u540c\u6837\u91cd\u8981\u7684\u662f\uff0c\u5305\u62ec\u77ff\u4e1a\u5de8\u5934\u5fc5\u548c\u5fc5\u62d3\u96c6\u56e2(BHP Group)\u5728\u5185\u7684\u66f4\u591a\u751f\u4ea7\u5546\u540c\u610f\u7528\u4eba\u6c11\u5e01\u652f\u4ed8\u3002<\/p>\n
\u94dc\u4ef7\u4e0a\u6da8\u7684\u65f6\u673a\u6070\u5230\u597d\u5904\u3002\u636eBMO\u8d44\u672c\u5e02\u573a(BMO Capital Markets)\u7684\u6570\u636e\uff0c\u4e2d\u56fd\u76ee\u524d\u5360\u5168\u7403\u6d88\u8d39\u603b\u91cf\u7684\u4e00\u534a\u4ee5\u4e0a\uff0c\u9ad8\u4e8e2010\u5e74\u768439%\u548c2000\u5e74\u768412%\u3002\u4e2d\u56fd\u5bf9\u94dc\u7684\u9700\u6c42\u4eca\u5e74\u624d\u6709\u6240\u589e\u957f\u2014\u2014\u5b83\u5438\u6536\u4e86\u66f4\u591a\u7684\u672a\u953b\u9020\u94dc\uff0c\u4e0e2019\u5e74\u76f8\u6bd4\uff0c\u5df2\u589e\u52a0\u4e86100\u591a\u4e07\u5428\u7684\u7cbe\u70bc\u94dc\u8d2d\u4e70\u91cf\u3002\u8fd9\u8868\u660e\uff0c\u5f53\u7ecf\u7eaa\u5546BANDS Financial Ltd.\u4e0e\u4e0a\u6d77\u671f\u8d27\u4ea4\u6613\u6240\u4e00\u9053\u505a\u6709\u5173\u65b0\u5408\u7ea6\u7684\u63a8\u4ecb\u65f6\uff0c\u5230\u7b2c\u4e8c\u5929\u4e0a\u5348\uff0c\u5b83\u88ab\u6d4f\u89c8\u91cf\u5df2\u8fbe1.5\u4e07\u6b21\u3002<\/p>\n
\u5c31\u50cf\u8fc7\u53bb\u770b\u5230\u7684\u90a3\u6837\uff0c\u653f\u5e9c\u610f\u5916\u5e72\u9884\u7684\u98ce\u9669\u603b\u662f\u5b58\u5728\u7684\u3002\u4ece\u4e2d\u56fd\u7684\u89d2\u5ea6\u6765\u770b\uff0c\u94dc\u4e5f\u4e0d\u80fd\u89e3\u51b3\u4eba\u6c11\u5e01\u56fd\u9645\u5316\u7684\u95ee\u9898\u3002\u4e3a\u4e86\u6709\u6548\u5730\u4e0eLME\u7ade\u4e89\uff0c\u5b83\u53ef\u80fd\u4e0d\u5f97\u4e0d\u589e\u52a0\u4ed3\u50a8\u5730\u70b9\u3002\u5b83\u53ef\u80fd\u53d8\u5f97\u6709\u7528\uff0c\u4f46\u4e0d\u662f\u5fc5\u9700\u7684\u3002<\/p>\n
\u5c3d\u7ba1\u5982\u6b64\uff0c\u5efa\u7acb\u4e00\u4e2a\u53ef\u9760\u7684\u5730\u533a\u57fa\u51c6\u8fd8\u662f\u5173\u4e8e\u65f6\u95f4\u3001\u7ed3\u6784\u548c\u8fd0\u6c14\u7684\u70bc\u91d1\u672f\u3002\u8fd9\u5f88\u53ef\u80fd\u540c\u65f6\u5177\u6709\u8fd9\u4e09\u4e2a\u65b9\u9762\u3002<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
\u957f\u6c5f\u6709\u8272\u91d1\u5c5e\u7f51\u8baf\uff1a\u6839\u636eBloomberg Opinion\u62a5\u9053\uff0c\u4e2d\u56fd\u5f00\u653e\u5927\u5b97\u5546\u54c1\u5e02\u573a\u7684\u4e0b\u4e00\u6b65\u4e3e\u63aa\uff0c\u53ef\u80fd\u662f\u8fc8\u51fa\u4e86\u4e00 […]<\/p>\n","protected":false},"author":6,"featured_media":3626,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[15],"tags":[],"bu":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.jtcopper.com\/wp-json\/wp\/v2\/posts\/3625"}],"collection":[{"href":"https:\/\/www.jtcopper.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jtcopper.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jtcopper.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jtcopper.com\/wp-json\/wp\/v2\/comments?post=3625"}],"version-history":[{"count":0,"href":"https:\/\/www.jtcopper.com\/wp-json\/wp\/v2\/posts\/3625\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.jtcopper.com\/wp-json\/wp\/v2\/media\/3626"}],"wp:attachment":[{"href":"https:\/\/www.jtcopper.com\/wp-json\/wp\/v2\/media?parent=3625"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jtcopper.com\/wp-json\/wp\/v2\/categories?post=3625"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jtcopper.com\/wp-json\/wp\/v2\/tags?post=3625"},{"taxonomy":"bu","embeddable":true,"href":"https:\/\/www.jtcopper.com\/wp-json\/wp\/v2\/bu?post=3625"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}