OIL PRODUCTS: Singapore Fuel Inventories Rebound, Led by Light Distillates
Oct-16 10:16
Singapore total oil inventories rebounded in the week to Oct. 15 by 3.137mbbl to 48.353mbbl to the highest since Sep. 17, according to Enterprise data.
- Total stocks rebounded 6.9% from the lowest since July 23 the prior week led by light distillates.
- Fuel oil stocks rose by 1.394mbbl on the week to 25.063mbbl. Fuel oil imports recovered 71% on the week above 1m tons led by Iraq and the UAE supply. Exports more than doubled on the week to 614k tons, led by flows to China.
- Middle distillate stocks fell by 0.400mbbl on the week to 9.660mbbl but with little net change since mid-August. Net exports of diesel and gasoil rose by 91% week on week, with an 18% gain in total exports.
- Light distillates rose by 2.143mbbl on the week to 13.630mbbl, rebounding from the lowest since Oct. 2023 last week.
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EUR: EURJPY could target the 2025 high
Sep-16 10:10
- The EUR continues to trade in strong territory, new fresh highs versus the JPY, SEK, CAD, AUD, NOK, and CHF.
- Aside from the EURUSD and the next resistance at 1.1829, it is worth keeping an eye on the development in the EURJPY chart.
- The next Obvious resistance is at the 2025 high of 173.97, also its highest print in just over a year, since July 2024.
LOOK AHEAD: US Retail Sales And Import Prices, Trump Departs For UK
Sep-16 10:09
US Data/Speaker Calendar (prior, estimate). All times ET
- 09/16 0830 Retail Sales Advance MoM (0.5%, 0.2%)
- 09/16 0830 Retail Sales Control Group MoM (0.5%, 0.4%)
- 09/16 0830 Import Price Index MoM (0.4%, -0.2%)
- 09/16 0830 Export Price Index MoM (0.1%, 0.1%)
- 09/16 0830 NY Fed Services (-11.7, -5.8)
- 09/16 0830 Trump departs the White House en route to London
- 09/16 0915 Industrial Prod (-0.1%, -0.1%)
- 09/16 0915 Cap Util (77.5%, 77.4%)
- 09/16 1000 NAHB housing index (32, 33)
- 09/16 1000 Business inventories (0.2%, 0.2%)
- 09/16 1550 Trump arrives in London
Source: Bloomberg, White House Pool, MNI
FINLAND AUCTION RESULTS: RFGB Results
Sep-16 10:06
| 0.75% Apr-31 RFGB | 3.00% Sep-35 RFGB | |
| ISIN | FI4000148630 | FI4000587415 |
| Amount | E628mln | E874mln |
| Previous | E398mln | E797mln |
| Avg yield | 2.572% | 3.067% |
| Previous | 1.237% | 3.050% |
| Bid-to-cover | 1.69x | 1.48x |
| Previous | 1.93x | 1.73x |
| Avg Price | 90.65 | 99.43 |
| Pre-auction mid | 90.606 | 99.429 |
| Prev avg price | 95.88 | 99.57 |
| Prev mid-price | 95.909 | 99.360 |
| Previous date | 19-Apr-22 | 12-Aug-25 |
