REFINING: Monroe Trainer Refinery Starts Maintenance a Week Early

Jan-23 08:34

Delta Air Lines’ 190k b/d Monroe Trainer refinery in Pennsylvania, which processes primarily North American light sweet crude, has started maintenance a week earlier than planned, Bloomberg sources said.

  • The works on a key unit for making high-octane gasoline started after the unit shut unexpectedly for unspecified reasons.
  • The maintenance on the isomerization unit was originally scheduled from next week, lasting for about 40 days into March.
  • Trainer is optimized for jet fuel production, but also makes gasoline, diesel and home heating oil.
  • The refinery serves NY Harbor, the delivery point for US gasoline and diesel futures.

Historical bullets

CROSS ASSET: MONTH END EXTENSION (update)

Dec-24 08:21

This should be a non event for Year End, they are small, and only the lower liquidity could get Govies moving, but unlikely, as investors turn their attention to 2025.

Bloomberg Bonds:

  • US Tsys: +0.07yr (small, average).
  • EU Govies: +0.04yr (small).
  • UK Govies: -0.02yr (non event).

MS Bonds:

  • US Tsys: +0.05yr (small).
  • EU Govies: +0.03yr (small).
  • UK Govies: To contract (non event).

Barclays FX:

  • Their Quarter rebalancing model only shows a Weak Dollar Buying signal.

GILTS: Opens within the Calls

Dec-24 08:09
  • A slightly higher open for Gilt, was just down 2 ticks at 92.46 vs close, a small wide range of 16 ticks on the Open, but as expected very poor volumes as also seen in the Sonia Strip.
  • In Terms of Technical, support is at 91.87, while resistance moves down to 92.92.

GILTS: Opening calls

Dec-24 07:57

Gilt Calls will be taken from Tnotes, with Europe closed, 92.40, would be 8 ticks down.

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