OIL: Tests Show Adriatic Pipeline Struggles to Replace Russian Oil Flows: P&GJ
Sep-25 12:36
Hungary’s MOL said fresh tests on the Adria crude oil pipeline failed to confirm that the system can deliver enough crude to Hungary and Slovakia on a stable basis, Pipeline & Gas Journal reported.
- MOL said the Croation section of the line struggled to operate at maximum capacity for more than two hours. The trial intended to verify whether the pipeline can reliably transport 40k mt/d of crude.
- MOL stressed the Adria line’s importance as a diversification route for Central Europe. This is particularly important amid calls from the US for the EU to completely end imports of Russian oil.
- Russian oil only flows into Europe via the Druzhba pipeline, serving providing barrels to Hungary and Slovakia.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US TSYS: Post-Data React
Aug-26 12:34
- Treasury futures pare gains after higher than expected Durable/Cap Goods Orders, Philadelphia Fed Non-Mfg Activity declines.
- Tsy Sep'25 10Y futures currently trades +1.5 at 112-00.5 vs. 112-03 high. Sights are on 112-15+, the Aug 5 high and the bull trigger. Clearance of this hurdle would resume the uptrend and pave the way for a climb towards 112-23 initially, the May 1 high.
- Curves twist steeper: 2s10s +2.367 at 57.312, 5s30s +4.066 at 114.350.
- Little react in US$ after scaling back Monday's late gain, BBDXY -2.76 at 1204.85.
GILTS: Roll Pace Update
Aug-26 12:33
- A decent clip in the Gilt spread, ~20k trades on legs at 3.
- The spread has mostly been bought, but remains in its tight 1/5 low/range seen in the past 11 sessions.
- Gilt roll Pace is at 82% completion, and expect for the December to be front Month by the end of day, or at the very least Tomorrow.
MNI: US AUG PHILADELPHIA FED NONMFG INDEX -17.5
Aug-26 12:31
- MNI: US AUG PHILADELPHIA FED NONMFG INDEX -17.5
