國際油價顯著上升，能源ETF、油氣ETF上升
格隆匯5月18日丨石油股早盤拉昇，海油工程、通源石油、中國石油升超3%，中國石化、石化油服、中曼石油、中油工程、中國海油跟升。
匯添富基金能源ETF、鵬華基金油氣ETF、廣發基金能源ETF基金上升，匯添富基金能源ETF今年以來升幅超17%。
從規模上看，市場上跟蹤能源、油氣的ETF規模均不大，其中匯添富基金能源ETF最新規模2.49億，鵬華基金油氣ETF最新規模1.52億。
能源ETF跟蹤的中證800能源指數，成分股數量22只，其中成分股陝西煤業、中國神華、中國石化、中國石油佔比超50%。
油氣ETF跟蹤的是國證油氣指數，其跟蹤滬深市場石油與天然氣領域相關上市公司的整體表現。目前包含89只成分股，前十大權重股包括中國石油、中國石化、中國海油等龍頭公司，前十股票佔指數權重的59.04%，指數集中度較高。
消息面上，國際油價5月17日顯著上升。截至當天收盤，紐約商品交易所6月交貨的輕質原油期貨價格上升1.97美元，收於每桶72.83美元，升幅為2.78%；7月交貨的倫敦布倫特原油期貨價格上升2.05美元，收於每桶76.96美元，升幅為2.74%。
歐佩克減產、俄羅斯減產、美國產量放緩和戰略庫存回購是今年油價下方主要支撐。
本週美國能源部官員表示，6月結束今年的2600萬桶戰略庫存拋售後，下半年可能會逐漸啟動收儲，但具體時間和數量尚不確定。目前美國戰略和商業油品總庫存已降至四十年低位。如果開啟收儲相當於額外補充原油需求。
俄羅斯能源部表示4月產量降至配額水平，但原油海運出口數據仍處高位，關注後續落實進度。
4月初歐佩克在油價大跌後宣佈擴大減產後，推升油價跳空上行。5月初油價再度回落，關注6月3日-4日歐佩克年中大會是否繼續調整產量政策。
年初以來原油價格在金融壓力和地緣支撐作用下呈現多空輪動的蹺蹺板效應。中信期貨認為，短期來看，在月初金融事件衝擊下，五月可能處於震盪週期中的偏弱階段，但在下方70美元處，仍有強力支撐，仍以短期波段操作思路為主。中期來看，六月進入地緣和金融事件交易階段，如果歐佩克減產或美聯儲停止加息，均有可能給油價提供階段上行動力。長期來看，支撐和壓力共存局面或將維持，今年可能整體處於週期末端的底部震盪期，全年暫時維持70-100區間預期。
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