据油价网2021年7月2日报道，美国石油市场正在收紧，这是因为商业原油库存正在快速下降，推动WTI原油期货曲线的时间价差扩大。
这条曲线正加强到现货溢价，这是一种暗示供应趋紧的市场状态，近期期货合约的价格高于远期合约。
近几日来，最近交割的合约与较晚交割的合约的溢价一直在扩大，表明即期供应正在收紧。 例如，WTI现货与11月合约的价差上周五早间为3.40美元。 据彭博社估计，这是自2018年以来即期价格相对于四个月期货价格的最大溢价。
现货市场趋紧反映出美国商业原油库存持续下降，国内原油产量相对持平，美国原油出口相对较高，尽管WTI对布伦特原油的折扣较小。
美国能源信息署(EIA)数据显示，截至6月25日当周，美国商业原油库存减少了670万桶。 这是原油库存连续第六周下降。
商业原油库存总量为4.523亿桶，比去年同期下降了15.2%。 与两年前新冠肺炎疫情大流行前的那个时候相比，也下降了3.4%。
俄克拉荷马州库欣的原油库存也在下降，进一步推动了期货市场的反弹。 截至6月25日的一周内，库欣原油库存减少了150万桶，至4030万桶。 这与去年同期相比下降了11.7%，与2019年同期相比下降了23.3%。
美国炼油厂也在提高运行率，目前的运行率为92.9%，中西部的炼油厂运行率为98.2%。 这甚至高于Covid-19前这个时候97.4%的产能利用率。
李峻 编译自 油价网
原文如下：
U.S. Crude Oil Inventories Are Drawing Very Fast
The U.S. oil market is tightening as commercial crude inventories are declining at a fast clip and driving wider time spreads in the WTI Crude futures curve.
The curve is strengthening into backwardation, the state of the market signaling tighter supplies with the prices of the nearer futures contracts higher than those further out in time.
The premium of the nearest contract to those for later delivery has been widening in recent days, suggesting that immediate supply is tightening. The spread between the cash WTI and the November contract, for example, was $3.40 early on Friday. This is the widest premium of prompt prices to the four-month futures price since 2018, according to Bloomberg estimates.
The tighter prompt market reflects the continuous decline in U.S. commercial crude oil inventories, the relatively flat domestic crude oil production, and the relatively high U.S. oil exports despite the narrow WTI discount to Brent.
U.S. commercial crude inventories fell by 6.7 million barrels for the week to June 25, as per Energy Information Administration data. This was the sixth consecutive weekly drawdown in crude stockpiles.
Total commercial crude inventories at 452.3 million barrels are now 15.2 percent lower than in the same week last year. They are also 3.4 percent lower compared to this time two years ago, before the pandemic.
Inventories at Cushing, Oklahoma – the designated delivery point for NYMEX crude oil futures contracts – are also falling, further boosting the rally in the futures market. Crude stocks at Cushing fell by 1.5 million barrels in the week to June 25 to stand at 40.3 million barrels. This was an 11.7-percent decline compared to this time last year and a drop of 23.3 percent compared to the same week in 2019.
Refineries are also increasing run rates, now operating at 92.9 percent capacity, with those in the Midwest operating at 98.2 percent of their operable capacity. This is higher even compared to the 97.4-percent capacity utilization at this time of the year in the pre-COVID 2019.
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