OIL PRODUCTS: Oil Products End of Day Summary: Cracks Rise on Week
Oct-31 18:21
US product cracks are weaker today, although are set for weekly gains, supported by stronger than expected US stock draws earlier in the week.
- US gasoline crack down 0.2$/bbl at 18.69$/bbl
- US ULSD crack down 0.7$/bbl at 39.56$/bbl
- Repsol expects high utilization rates in Q4 with no plans for major refinery turnarounds, according to CEO Josu Jon Imaz cited by Bloomberg from an earnings call yesterday.
- 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.
- Kuwait Petroleum Corp has offered additional heavy crude for prompt loading in November following an unplanned Al-Zour refinery outage on Oct. 21, Reuters said.
- China’s weekly gasoline production fell by 31k mt to 2.944m mt for the seven days to Oct. 30, OilChem said.
- Weekly gasoil production was up 43k mt to 4.124m mt in the week to Oct. 30, according to OilChem.
- Gasoline inventories among China’s traders fell by 165k mt on the week to 3.599m mt.
- Gasoil inventories among traders in China fell 115k mt in the week, taking total stock to 5.166m mt, OilChem added.
- KPC has delayed the restart of a crude unit at its 615kb/d Al Zour oil refinery, according to Reuters cited IIR.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US TSY OPTIONS: Dec'25 2Y Broken Put Fly
Oct-01 18:06
- 6,500 TUZ5 103.87/104.37/104.50/104.87 broken put flys ref 104-09.62
PIPELINE: Corporate Bond Update: $2B Vistra Operations 2Pt Launched
Oct-01 18:00
- Date $MM Issuer (Priced *, Launch #)
- 10/01 $2.5B #Bahrain $1.5B +8Y Sukuk 5.875%, $1B 12Y 6.625%
- 10/01 $2B #Vistra Operations $750M 3Y +75, $500M 5Y +93, $750M 10Y +118
- 10/01 $750M Alpha Generation $750M 8.25NC3 6.375%
- 10/01 $500M #Convatec Group 10Y +125
- 10/01 $500M Jane Street Grp 2033 tap
- 10/01 $Benchmark IFC 5Y SOFR+38
EURGBP TECHS: Monitoring Support
Oct-01 18:00
- RES 4: 0.8835 High May 3 2023
- RES 3: 0.8800 Round number resistance
- RES 2: 0.8769 High Jul 28 and the bull trigger
- RES 1: 0.8751 High Sep 25
- PRICE: 0.8702 @ 16:28 BST Oct 1
- SUP 1: 0.8667/8597 50-day EMA / Low Aug 14 and the bear trigger
- SUP 2: 0.8562 50.0% retracement May 29 - Jul 28 upleg
- SUP 3: 0.8540 Low Jun 30
- SUP 4: 0.8514 61.8% retracement May 29 - Jul 28 upleg
EURGBP has pulled back from its recent highs - a correction. A bullish theme remains intact. The latest recovery paves the way for an extension towards the bull trigger at 0.8769, the Jul 28 high. Clearance of this level would strengthen the bull theme. Support to watch lies at 0.8597, the Aug 14 low. A breach of this level would instead reinstate a recent bearish threat. First support is 0.8667, the 50-day EMA.
