OIL: Saudi May Cut Oct. Arab Light OSP $0.4-$0.7/bbl: Reuters Survey
Aug-28 09:31
Saudi Arabia may cut its October Arab Light OSP between $0.4-$0.7/bbl to a premium of between $2.50-$2.80/bbl, five refining sources said in a Reuters survey.
- October OSPs for other crude grades - Arab Extra Light, Arab Medium and Arab Heavy – could be cut $0.4-$0.6/bbl, the survey showed.
- The forecasts are in line with a $0.55/bbl decline in cash Dubai’s premium to swaps this month from last month, amid ample supply and weaker demand, Reuters says.
- For September, Saudi Arabia hiked Arab Light prices by $1/bbl to a five-month high of $3.2/bbl with prices boosted by strong demand from Asia and domestic cooling demand.
- Saudi crude OSPs are usually released around the fifth of each month.
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GERMAN AUCTION RESULTS: 2.20% Oct-30 Bobl
Jul-29 09:31
| 2.20% Oct-30 Bobl | Previous | |
| ISIN | DE000BU25059 | |
| Total sold | E4.5bln | E5bln |
| Allotted | E3.409bln | E3.754bln |
| Avg yield | 2.28% | 2.26% |
| Bid-to-offer | 1.16x | 1.12x |
| Bid-to-cover | 1.53x | 1.49x |
| Avg Price | 99.62 | 99.72 |
| Low Price | 99.62 | 99.72 |
| Pre-auction mid | 99.601 | |
| Previous date | 08-Jul-25 |
SONIA OPTIONS: More Sonia Call Spread buyers
Jul-29 09:25
- SFIX5 96.60/96.70cs, bought for 0.75 in 5k.
- SFIZ5 96.65/96.75cs, was bought earlier for 0.75 in 10k.
Call spread buyers has been the dominant Sonia Option structures this morning.
ITALY T-BILL AUCTION RESULTS: 6-Month BOT
Jul-29 09:11
| Type | 6-month BOT |
| Maturity | Jan 30, 2026 |
| Amount | E6.5bln |
| Target | E6.5bln |
| Previous | E1.5bln |
| Avg yield | 1.993% |
| Previous | 1.950% |
| Bid-to-cover | 1.48x |
| Previous | 1.64x |
