据油价网2023年3月28日报道，上周不断暴跌的油价对石油大型需求端极具诱惑力，他们利用低油价来对冲不可避免的价格上涨。
彭博新闻社对交易数据的分析显示，航空公司等大型需求端迅速增加了对冲。彭博新闻社称，上周原油交易活动明显增加，但目前只有用银行定位数据才能量化这种活动的程度。
上周掉期交易商在洲际交易所(ICE)期货和期权的多头头寸增加了5.4万份，为有记录以来的第二大增幅。历史上唯一一次多头头寸增加最多的是在2018年。
在去年的大部分时间里，这些石油大型需求端都受到高油价的影响，现在它们正寻求从最近的油价暴跌中获利。他们认为油价今年仍有很大可能回升，这是一个很好的机会。
石油分析师预测，今年油价将出现反弹，他们寄望于亚洲重新开放能够推动全球石油需求。
在彭博新闻社引用的一则传闻中，欧洲航空公司德国汉莎航空公司表示，它将石油对冲增加到计划使用量的85%，从而恢复到疫情前的对冲水平。
布伦特原油价格上周大幅下跌，跌至每桶72美元出头，但此后已显示出复苏迹象。截至美国东部时间3月28日上午10时，布伦特原油价格目前为每桶78.15美元，当天上涨0.08%，一周上涨3美元。然而，布伦特原油价格仍比3月初每桶低8美元。
现在的问题是，布伦特原油价格什么时候会完全反弹，现在仍然是对冲的好时机，还是说还没有对冲的石油大型需求端错过了机会?
李峻 编译自 油价网
原文如下：
Oil’s Low Prices Draw Rash Of Hedging
Last week’s crashing oil prices were awfully tempting last week for big oil consumers, who took advantage of the low prices to hedge against the inevitable price rise.
Major oil consumers such as airlines boosted their hedging at a rapid pace, according to a Bloomberg analysis of trading data. It was clear last week that there was a sharp rise in trading activity for crude oil, but the extent of the flurry of activity is only now quantifiable with bank positioning data, Bloomberg said.
Swap dealers saw the second-largest increase on record in long positions in the ICE futures and options, as contracts increased by 54,000. The only time in history that they’ve been higher was back in 2018.
These big crude oil consumers were at the mercy of high oil prices for much of last year, and are now looking to cash in on the recent price crash. And they’re not wrong in thinking that there is a good chance oil prices will recover yet this year.
Oil analysts are forecasting that there will be an oil price recovery this year, banking on a push of demand thanks to China’s reopening.
In one anecdote cited by Bloomberg, European airline Deutsche Lufthansa AG said it increased its oil hedging to 85% of its planned usage—returning to the levels it was hedging prior to the pandemic.
Brent crude prices fell spectacularly last week, to just over $72 per barrel, but have since shown signs of recovery. Brent prices are now trading at $78.15 as of 10:00 am ET, a 0.08% gain on the day but a $3 gain on the week. Prices, however, are still $8 less than where prices were towards the beginning of the month.
The question now is, when will prices rebound fully, and is now still a good time to hedge, or have big users who haven’t yet hedged missed their opportunity?
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