OIL PRODUCTS: Singapore Gasoline Cracks Under Pressure in H2
Aug-07 16:32
There are further downsides for the East of Suez gasoline market with ramped p CDU throughputs in several regional refineries, Kpler said.
- China intends to export 46% more gasoline on the month at 980k mt in August. The government is also considering adding a 12m mt clean oil product export quota award in September, taking allocations to a record high of 45m mt.
- It will not be easy to find an outlet for these cargoes, given Dos Bocas startup and US West Coast stocks are still 6% above the typical average.
- Thid will pressure FOB Singapore cracks as transpacific arbitrage opportunities remain scant, Kpler said.
Source: Kpler
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US TSY OPTIONS: Sep'24 30Y Ratio Call Spread
Jul-08 16:23
- 2,200 USU4 124/129 1x2 call spds ref 118-26
OPTIONS: Larger FX Option Pipeline
Jul-08 16:18
- EUR/USD: Jul10 $1.0600(E1.3bln), $1.0650(E1.6bln), $1.0760-80(E3.0bln), $1.0875-80(E1.1bln), $1.0895-05(E1.3bln); Jul11 $1.0700(E2.6bln), $1.0735-45(E2.3bln), $1.0760-80(E3.2bln), $1.0860-65(E1.1bln), $1.0900(E1.1bln), $1.0985-00(E2.2bln); Jul12 $1.0600(E2.5bln), $1.0650(E1.6bln), $1.0685-00(E2.5bln)
- USD/JPY: Jul10 Y159.50($1.6bln), Y160.00($2.0bln), Y161.00-20($1.8bln), Y161.50($1.1bln); Jul11 Y161.00($1.2bln); Jul12 Y160.50($1.0bln), Y161.95-00($1.3bln)
- EUR/GBP: Jul11 Gbp0.8455(E1.4bln)
- AUD/USD: Jul10 $0.6770(A$1.0bln)
- USD/CNY: Jul10 Cny7.3000($1.1bln)
US: House Democrat Conference Meeting Scheduled For 09:00 ET Tuesday
Jul-08 16:14
Daniella Diaz at Politico reporting that the House of Representatives Democratic Party conference will meet tomorrow at 09:00 ET 14:00 BST for a full members meeting at the Democratic Congressional Campaign Committee headquarters in Washington, D.C.
- The meeting is certain to discuss strategy for President Biden's re-election bid following a defiant interview with MSNBC this morning where Biden doubled down on his intention to run for re-election.
- Pollster Larry Sabato at the University of Virginia noted today, after Biden circulated a long letter to Democrat lawmakers pledging to stay in the race: "Like it or not, that's the end of that. Biden-Harris it is for Dems. Legally, Biden has the high ground--he has to agree to step aside and he is clearly not going to do so.
- Sabato added: "Today's question: Will Dem officeholders, donors, rank-and-file reunify quickly, or will they do what they did, more or less, in 1968, 1980, 2000, and 2016 (among other years)? (Hint: Dems lost in all 4 of those years.)"
