REFINING: Saudi Ras Tanura Refinery to Start Works on Naphtha Reformer in Early 2024
Nov-23 10:08
Saudi Aramco’s 550kbpd Ras Tanura refinery is scheduled to halt a naphtha reformer in early 2024, according to a person familiar with the matter, cited by Bloomberg.
- The works could start in January, the person said.
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OUTLOOK: Price Signal Summary - Bear Threat In S&P E-Minis Remains Present
Oct-24 10:04
- S&P E-Minis maintain a softer tone and the contract started the week on a bearish note. Support at 4235.50, the Oct 4 low and bear trigger, has been breached. The break of this support confirms a resumption of the downtrend and opens 4194.75, the May 24 low. Price remains below resistance at the 50-day EMA, at 4404.28. A clear breach of this average is required to strengthen bullish conditions. Initial resistance is at 4348.88, the 20-day EMA.
- A bearish theme in EUROSTOXX 50 futures remains in play and last week’s move lower reinforces current conditions. The contract has cleared support at 4082.00, the Oct 4 low and a bear trigger. This break confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. The focus is on the 4000.00 handle. Initial firm resistance is at 4155.50, the 20-day EMA.
MNI: UK OCT CBI INDUSTRIAL TRENDS TOTAL ORDERS -26
Oct-24 10:00
- MNI: UK OCT CBI INDUSTRIAL TRENDS TOTAL ORDERS -26
- UK CBI OCT PRICE INTENTIONS 7
US TSY FUTURES: OI Points To Mix Of Fresh Longs & Short Cover On Monday
Oct-24 09:57
The combination of preliminary open interest data and yesterday’s firming in futures (after a sharp reversal from intraday lows as comments from various large fund managers and apparent interest in outright 10-Year yield levels above 5% helped trigger a recovery) point to a mix of long setting and short cover to start the week.
- TU & UXY futures seemingly saw fresh longs set on net, while FV, TY, US and WN futures seemingly saw shorts cover on net.
- The net OI DV01 equivalent change across the curve was limited, although slightly tilted more towards short cover.
| 23-Oct-23 | 20-Oct-23 | Daily OI Change | OI DV01 Equivalent Change ($) | |
| TU | 4,192,578 | 4,174,036 | +18,542 | +685,118 |
| FV | 5,573,824 | 5,581,503 | -7,679 | -315,556 |
| TY | 4,640,523 | 4,655,544 | -15,021 | -938,009 |
| UXY | 1,965,971 | 1,949,118 | +16,853 | +1,461,799 |
| US | 1,384,273 | 1,391,815 | -7,542 | -961,087 |
| WN | 1,553,464 | 1,555,379 | -1,915 | -344,076 |
| Total | +3,238 | -411,812 |
