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观点:霍尔木兹油阀关停为特朗普埋下政治炸弹,日韩结构性脆弱暴露无遗
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比推消息,BTC OG 内幕巨鲸代理人 Garrett Jin 发长文分析霍尔木兹海峡持续封闭将为全球带来何种影响,其指出欧洲、美国、日韩、印度等承受能力各不相同,危机将在石油短缺达到阈值后爆发。

日本是全球结构性暴露最严重的主要经济体,其约 95% 的石油来自中东,其中约 70% 直接通过霍尔木兹海峡运输。日本的战略石油储备名义上供应量为 254 天,但日本的液化天然气(LNG)仅供约三周,而 LNG 占据日本电网 40% 的发电能源敞口。

韩国的境遇与日本几乎相同,70.7% 的石油和 20.4% 的液化天然气来自中东,石油和天然气合计约占电网发电量的 35%。韩国股指 KOSPI 近期已下跌超 12% 并一度触发交易暂停。总统李在明宣布实施燃油价格上限,这是自亚洲金融危机以来的首次。电网不稳可能威胁三星和 SK 海力士半导体晶圆厂的产能与良率,进而威胁全球人工智能基础设施。

美国的实际脆弱性是政治上的,而非物理上的。霍尔木兹石油通量仅有约 2.5% 运往美国,但中期选举将至,油价是美国选民最清晰的经济信号。特朗普一面发动对伊朗的军事行动,一面公开承诺降低油价,在霍尔木兹关闭、海湾阿拉伯石油产量六成以上停产的情况下,这一承诺在物理上不可能实现的。矛盾无法无限期地持续下去,未来特朗普要么面临对伊军事运动的政治支持减少,要么丧失在经济管理上的公信力。

据 Bitget 行情数据,今早布伦特原油期货价格连续第二个交易日收于每桶 100 美元以上,创下三年多来的最高水平。美国原油期货收于每桶 99 美元附近,为 2022 年 7 月以来的最高水平。

据 PolyBeats 监测,目前在预测市场 Polymarket 上,芝商所 WTI 原油期货Crude Oil (CL)在 3 月内收盘价突破 100 美元的概率已升至 92%,收盘价突破 120 美元的概率已升至 52%。



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:) :( :D :'( :@ :o
:P :$ ;P :L :Q :lol
:loveliness: :funk: :curse: :dizzy: :shutup: :sleepy:
:hug: :victory: :time: :kiss: :handshake: :call:
:) :( :D :'( :@ :o
:P :$ ;P :L :Q :lol
:loveliness: :funk: :curse: :dizzy: :shutup: :sleepy:
:hug: :victory: :time: :kiss: :handshake: :call:
:hug: :victory:
:) :( :D :'( :@ :o
:P :$ ;P :L :Q :lol
:loveliness: :funk: :curse: :dizzy: :shutup: :sleepy:
:hug: :victory: :time: :kiss: :handshake: :call:
:hug: :victory: :time: :kiss: :handshake: :call:
:hug: :victory: :time: :kiss: :handshake: :call:
:hug: :victory: :time: :kiss: :handshake: :call:
:hug: :victory: :time: :kiss: :handshake: :call:
:hug: :victory: :time: :kiss: :handshake:
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