GASOLINE: Indonesia Allows More Gasoline Imports Via Pertamina Amid Shortages
Sep-19 14:47
Late summer purchase tenders from Indonesia’s Pertamina are adding to tightness and price strength in Asia gasolines markets as the country faces fuel shortages.
- Indonesia will allow private fuel retailers, such as Shell and BP, to import more gasoline through state firm Pertamina, energy minister Bahlil Lahadalia said on Sep. 19 cited by Reuters. Additional supply would arrive in seven days.
- Private fuel retailers have been given a 10% bigger import quota compared to last year, but demand has exceeded that, Bahlil said.
- Some gasoline products have seen inventory shortages since late August with adjusted fuel station operational hours and staffing, Shell said.
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FOREX: Weakness for Equities Boosts Japanese Yen to Session Highs
Aug-20 14:42
- The latest bout of weakness for equities and bullishness across fixed income weighs on USDJPY in recent trade, which trades down to a fresh session low of 147.09, just shy of the week’s lowest level at 147.05. Overall, the pair remains in consolidation mode, with a bearish threat still present.
- Sights are on support at 145.86, the Jul 24 low. Clearance of this level would highlight a stronger S/T reversal and strengthen the bearish engulfing signal on Aug 1. This would open 144.69, a trendline drawn from the Apr 22 low. Initial firm resistance to watch is 148.52, the Aug 12 high.
- Kiwi weakness continues to be the main talking point on Thursday and the latest price action has seen NZDJPY extend session losses to 1.55% and print 11-week lows in the process.
US TSY FUTURES: BLOCK: Sep'25 2Y Buy
Aug-20 14:39
- +5,000 TUU5 103-27.38, post time offer at 1019:54ET
- The 2Y contract trades 103-27.5 last vs. -27.75 high (+1.5)
GILT AUCTION PREVIEW: On offer next week
Aug-20 14:30
The DMO has announced it will be looking to sell GBP5.0bln of the 4.375% Mar-28 Gilt (ISIN: GB00BSQNRC93) at its auction next Wednesday, August 27.
