OIL: IOC Resumes Russian Oil Puchases from Non-Sanctioned Entities
Oct-31 08:30
IOC has bought five cargoes of Russian oil for December arrival from non-sanctioned entities, Reuters sources said.
- The state refiner is resuming purchases after the latest US sanctions targeting Russia’s Rosneft and Lukoil last week and despite US pressure on India to stop buying Russian oil. IOC had previously cancelled about seven or eight cargoes of Russian oil.
- IOC has bought about 3.5mbbl of ESPO at near parity to Dubai for delivery at an eastern Indian port in December, a source said.
- Many Indian refiners have paused buying Russian oil since the sanctions but are considering whether they can take some discounted Russian oil cargoes by leaning on small suppliers.
- IOC will continue to buy Russian oil if the barrels are in compliance with sanctions, said head of finance, Anuj Jain.
- India’s HPCL has stopped processing Russian crude oil as it no longer finds it economically viable for the refinery, Chairman Vikas Kaushal said cited by Bloomberg. The state-run refiner is now processing more Middle East and West African barrels.
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MNI: UK SEP FINAL MANUF PMI 46.2 (46.2 FLASH, 47.0 AUG)
Oct-01 08:30
- MNI: UK SEP FINAL MANUF PMI 46.2 (46.2 FLASH, 47.0 AUG)
OPTIONS: Expiries for Oct01 NY cut 1000ET (Source DTCC)
Oct-01 08:29
- EUR/USD: $1.1600-10(E3.3bln), $1.1700-10(E2.2bln), $1.1750-60(E2.1bln), $1.1775(E709mln), $1.1791-05(E1.9bln), $1.1900(E1.3bln), Y147.50($651mln), Y148.65-75($1.0bln)
- USD/JPY: Y146.15($864mln), Y146.40-50($1.7bln)
- EUR/JPY: Y175.00(E802mln)
- EUR/GBP: Gbp0.8780(E599mln)
- AUD/USD: $0.6600-10(A$1.1bln), $0.6700(A$1.6bln)
- USD/CAD: C$1.3900-10($655mln)
- USD/CNY: Cny7.1900($599mln)
EUROPEAN INFLATION: Eurozone headline HICP tracking 2.3%Y/Y with 2-way risks
Oct-01 08:18
- Ahead of this morning's flash Eurozone HICP print, we track the Y/Y print at 2.3%Y/Y with two way risks (this is higher than our estimate yesterday of 2.2-2.3%Y/Y following the 3.05%Y/Y Dutch print which came in higher than consensus).
- We think that a 2.4%Y/Y print would be a bit of a surprise, with most sell side updates sticking to their original forecasts of 2.2-2.3%Y/Y (so either 2.2% or 2.3% would be less of a surprise).
- The median estimate in the Bloomberg survey is 2.2%Y/Y but 20/44 analysts in the survey look for 2.3% (or higher) - although only 3 of these look for 2.4%Y/Y.
- We have so far received data from countries that make up 92.4% of the index.
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