OIL PRODUCTS: Sonatrach Augusta Refinery Restart Extends into May: Argus
May-08 16:54
Crude deliveries to Algerian state-owned Sonatrach’s 198k b/d Augusta refinery in Italy were higher April, but it appears a full restart from planned works will take longer than expected, Argus said.
- Crude deliveries last month were around 70k b/d, up from 20k b/d in March. Receipts across Jan-April averaged 95k b/d, compared to the 2024 average of 160k b/d.
- Sonatrach had scheduled a full return for April 30 with units restarting in two phases, Argus said.
- Sonatrach, in an updated note to local authorities, said an atmospheric distillation unit, propane deasphalter, hydro-desulphuriser, propane splitter and other secondary units would potentially flare on restart up to May 31.
- Crude delivery last month included over 45k b/d of Saudi Arab Light, 15k b/d of Kazakh Kebco and over 5k b/d of Algerian Saharan Blend, Argus said.
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US TSYS: Risk-On Tone Evaporating
Apr-08 16:52
- Treasury futures climbing off lows after WH confirms 104% added tariff on China went into effect at noon, WH press sec Leavitt adds additional tariff to be collected starting tomorrow.
- Buyer 15,000 TUM5 up to 103-30.5 last few minutes, while contract trades 103-29.5 last (-.62), TYM5 -4 at 111-30, 10Y yield slips to 4.1624%.
- Still bid, stocks pare gains with SPX eminis falling to 5127.5 vs. 5305.25 high recently trades, 5147.0 last. Bbg US$ index -2.49 at 1269.07.
OPTIONS: Large Euribor Call Fly Sale, Schatz Put Spread Buy Tuesday
Apr-08 16:52
Tuesday's Europe rates/bond options flow included:
- DUK5 106.70/106.50ps, bought for 1.5 in ~11.9k
- OEK5 118/117 put spread, bought for 19.5 in 4.5k
- RXK5 130.50/134.00cs sold at 74.5 in 3k
- ERK5 97.6875/97.8125ps, bought for 1.75 in 2k
- ERU5 99.25/95.62/100.00c fly, sold at 0.25 in 15k
- SFIK5 96.30/96.40cs, bought for 0.75 in 8k
TARIFFS: White House Confirms 104% Tariffs On China To Start Apr 9
Apr-08 16:49
- "WHITE HOUSE PRESS SECRETARY SAYS 104% TARIFFS WENT INTO EFFECT ON CHINA; ADDITIONAL TARIFF WILL BE COLLECTED STARTING APRIL 9 -FOX BUSINESS REPORTER" - RTRS
- It helps ESA continues to reverse gains (having now dropped 150 points from session highs, +1.1% on the day) and USDCNH at 7.3965 back close to session highs of 7.3981.
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