OIL PRODUCTS: Lower Rhine Water Levels Curb Oil Carrying Capacity
May-02 13:25
Barges hauling fuel along with the Rhine river to parts of inland Europe are restricted to carrying less than half of their full capacity, according to Bloomberg citing Spotbarge data.
- A 100m barge with a capacity of 2.5k mt of diesel would only be able to haul 1.012k through the Kaub chokepoint.
- Low river water levels restrict the amount of product barges are able to carry.
- The measured water level at Kaub was 98cm earlier May 2. Water levels are forecast to rise in the coming days.
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EQUITIES: US Cash Opening calls
Apr-02 13:23
US Cash Opening calls, similar to Futures, Cash indices will Open in the red, but will also be above Yesterday's lows.
- Calls: SPX: 5,583.9 (-0.9%); DJIA: 41,716 (-0.7%/-274pts); NDX: 19,210.3 (-1.2%).
CANADA: Ontario Premier-'Can Take Tariffs To Zero If Trump Ends Tariff War'
Apr-02 13:12
Speaking on CNBC, Ontario Premier Doug Ford says "We would take tariffs to zero if Trump ended his tariff war. And we told him this". Adds that he wants to see Canada exporting more critical minerals to the United States. Ford: 'Lets get back to a USCA (US-Canada) deal, not a USMCA (US-Mexico-Canada) deal'.
- During the interview, Ford refuses to be drawn on the federal election, neither endorsing opposition Conservative Party of Canada (CPC) leader Pierre Poilievre nor PM Mark Carney's Liberals. Ford hails from the Progressive Conservative Party of Ontario, which ostensibly is ideologically linked to the CPC.
STIR: Effective Fed Funds Rate
Apr-02 13:05
- FRBNY EFFR for prior session:
- Daily Effective Fed Funds Rate: 4.33% (+0.00), volume: $112B
- Daily Overnight Bank Funding Rate: 4.33% (+0.00), volume: $264B
- Earlier Repo Reference Rates
- Secured Overnight Financing Rate (SOFR): 4.39% (-0.02), volume: $2.589T
- Broad General Collateral Rate (BGCR): 4.35% (-0.01), volume: $972B
- Tri-Party General Collateral Rate (TCR): 4.35% (-0.01), volume: $936B
- (rate, volume levels reflect prior session)
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