OIL: Nigeria Cuts Nov Qua Iboe OSP

Tuesday's Europe rates/bond options flow included:

• RXX5 125p, bought for 2 in 10k
• ERH6 98.0625/98.1875cs vs 97.875p, bought the cs for 1.25 in 7k total
• ERH6 98.25/98.12/98.06/97.81p condor, bought for 0.75 in 2k
• ERH6 98.00/98.06/98.12/98.18c condor, bought for 0.25 for 4k
• ERM6 98.37c, bought for 3.25 in 12k
• 0RX5 98.06c vs 0RV5 98.00c, bought the Nov for 1 and 1.25 in 10k Total.
• SFIZ5 95.95/96.25^^, bought for 2 in 2k
• SFIF6 96.25/96.15ps 1x2, bought for 1.5 in 1k.
• SFIZ6 96.25/96.75/97.00cfly vs SFIM6 96.00p x2, traded 7.75 for the fly in 2.5k

• Stocks are drifting in mildly negative territory after midday, apprehension over a looming US government shutdown at midnight tonight keeping trading accounts at bay.
• Currently, the DJIA trades down 22.74 points (-0.05%) at 46286.6, S&P E-Minis down 0.75 points (-0.01%) at 6711.5, Nasdaq down 27.6 points (-0.1%) at 22559.85.
• Energy, Financial and Consumer Discretionary sector shares led decliners in the first half, oil and gas stocks paring recent gains as crude prices retreated amid reports that ministers are considering a 500k b/d production increase at Sunday’s meeting. WTI crude recovered slightly (currently at 62.84 vs. 62.09 low) after OPEC issued a statement rejecting reports of production increases.
• Schlumberger -3.62%, Occidental Petroleum -2.66%, Halliburton -1.98%, Marathon Petroleum -1.89% and Phillips 66 -1.63% weighed on the Energy sector.
• A mix of financial services and travel related shares weighed on Financial and Consumer Discretionary sectors: Capital One Financial -5.82%, KKR & Co -4.67%, Synchrony Financial -4.54%, and MGM Resorts Int -4.41%, Expedia Group -3.60%, Las Vegas Sands -2.81% and Wynn Resorts -2.37%.
• On the positive side, Health Care and Information Technology sector shares led gainers. Pfizer climbed over 4% after headlines reported the pharmaceutical maker will get a three year grace period from Trump's drug tariffs. Merck & Co gained +4.00% and Charles River Labs +2.66%.
• Dell Technologies +3.36%, NVIDIA +2.85% and Super Micro Computer +2.55% supported the Tech sector.

• "TRUMP ON GOVERNMENT SPENDING: WE CAN DO THINGS IN A SHUTDOWN THAT ARE IRREVERSIBLE"
• "DEMOCRATS ARE TAKING A RISK"
• "WE CAN CUT BENEFITS" (Reuters)