OIL: Sokol Crude Unloads in China After STS Transfer from Sanctioned Vessels
Mar-19 11:08
The non sanctioned Panama-flagged Daban VLCC unloaded a cargo at a Chinese port last week, following STS transfers from three smaller sanctioned tankers, Reuters said.
- The vessel unloaded 2mbbls of Russian Sokol crude at the privately-controlled Qingdao Haiye Group berth at the port of Qingdao on March 13.
- The Daban received oil from Aframax-sized Vladimir Arsenyev on Feb. 3, Captain Kostichev on Feb. 9 and Victor Konetsky on Feb. 10 at Nakhoda Bay in Russian territorial waters.
- Nakhoda Bay is not known as a regular site for STS oil transfers.
- The non sanctioned Daban was drawn to the Russian oil trade by healthy margins following the US sanctions on Jan. 10. The cargo was previously rejected by the port of Yantai in Shandong province, Reuters sources said.
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US 10YR FUTURE TECHS: (H5) Remains Above Last Week’s Lows
Feb-17 11:04
- RES 4: 110-25 High Dec 12
- RES 3: 110-19 76.4% retracement of the Dec 6 - Jan 13 bear leg
- RES 2: 110-14 High Dec 14
- RES 1: 110-00 High Feb 7 and the bull trigger
- PRICE: 109-05+ @ 10:53 GMT Feb 17
- SUP 1: 108-04/00 Low Feb 12 / Low Jan 16
- SUP 2: 107-06 Low Jan 13 and the bear trigger
- SUP 3: 107-04 Low Apr 25 ‘24 and a key support
- SUP 4: 106-11 2.00 proj of the Oct 1 - 14 - 16 price swing
Treasury futures remain above last week’s lows and price has risen above the 50-day EMA. A continuation higher would expose key resistance and a bull trigger at 110-00, the Feb 7 high. For bears, recent weakness resulted in a break of 108-20+, the Feb 4 low, highlighting the end of the corrective cycle between Jan 13 - Feb 7. A continuation lower would open 108-00, the Jan 16 low, and expose 107-06, the Jan 13 low and bear trigger.
SONIA: Outright put buyer
Feb-17 10:59
SFIM5 95.60p, bought for 2 in 4k.
BONDS: BTP/Bund spread tests immediate support area
Feb-17 10:40
- The BTP/Bund spread is back at the 106.00bps level, 1.9bp tighter so far on the Day.
- The spread has found support multiple time at this level, back in December, January and also this Month.
- Technically, we could be having a falling wedge, would be bullish, but investors will be watching how it develops at these lower levels.
- A clear break through 106.00bps, opens to the Psychological 100.00, although better will be seen nearer the ~97.7bps area.
(Chart source: MNI/Bloomberg).
