OIL: Singapore Oil Inventories Rise Again to Highest Since September
Dec-12 10:26
Singapore total oil inventories rose for a sixth straight week by 1.62mbbl in the week to Dec. 11 to 44.68mbbl, according to Enterprise data.
- Fuel oil stocks fell for a second week by 0.867mbbl w/w to 17.921mbbl as inventories clear before the year end, Reuters sources said. Net imports remain strong, rising by 2.4% to more than 900k tons as inventories remained higher than November's average of 18.15mbbl per week.
- Singapore’s middle distillate stocks rose by 1.13mbbl on the week to 11.370mbbl to the highest since early September.
- Light distillates increased by 1.36mbbl w/w to 15.392mbbl to also reach the higher since September.
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GERMAN DATA: ZEW Declines Further, Driven by Gov't Collapse / US Election
Nov-12 10:24
The German ZEW Index shows both the current assessment and expectations, contrary to expectations for a slight uptick, declining further in Germany. Expectations 7.4 (vs 13.2 cons; 13.1 prior); current assessment -91.4 (vs -85.0 cons; -86.9 prior).
- This means that the previous gap between the current assessment being much worse than the participant's outlook remained largely unchanged.
- Associated notes from the press release, via Reuters:
- "Economic expectations for Germany have been overshadowed by trump’s victory and the collapse of the German government coalition"
- "Economic sentiment has declined – and the outcome of the us presidential election is likely to be the main reason for this"
- "More optimistic voices were heard in the last survey days, expecting economic prospects for Germany to improve with snap elections on the horizon"
- The index is based on a survey of "up to 300 experts from banks, insurance companies and financial departments".
EQUITIES: US and EU Option expiries on Friday
Nov-12 10:19
Friday will be Equities Option expiries, in Notional term, looking vs what was seen at the 18th October expiry:
- SPX: $1.42T vs $1.47T in Oct.
- NDX: $4.68bn vs $4.61bn.
- Amazon: $11.26bn vs $11.20bn.
- Apple: $16.83bn vs 17.51bn.
- SX5E: €124.35bn vs €125.15bn.
- SX7E: €2.76bn vs €3.74bn.
- DAX: €20.43bn vs €17.74bn.
- CAC: €1.17bn vs €1.21bn.
- FTSE: £9.76bn vs £9.42bn.
EQUITIES: Emini is extending small losses
Nov-12 10:15
- US Emini continues to unwind from Yesterday's new record high, as the contract stayed in overbought territory since the US Election result.
- Overall the move is still tiny, Yesterday saw a very tight 40 points range in ESZ4, and it is looking to test Yesterday's low at 6013.50, while initial support is seen towards 5990.50.
