RUSSIA: Transneft-Ukraine Section Of Druzhba Suspended
Russia's state-run TASS reporting comments from oil network operator Transneft stating that a section of the Druzhba oil pipeline in Ukraine has been suspended, but that the pumping of oil from Belarus to Ukraine is continuing.
- Confirms that pumping of oil to Hungary is to be suspended 'for at least a week', while the pumping to Czech Republic and Slovakia continues.
- Comes a day after Ukraine's pipeline operator Ukrtransnafta confirmed that it would increase transit fees next year due to “continued destruction of the Ukrainian energy infrastructure has led to a significant shortage of electricity, an increase in its costs, a shortage of fuel, spare parts,”
Source: Kpler, FT Research
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US 10YR FUTURE TECHS: (Z2) Trend Needle Still Points South
- RES 4: 113-23 50-day EMA
- RES 3: 112-22+ High Oct 6
- RES 2: 111-28+ High Oct 12 and key near-term resistance
- RES 1: 110-16+ 20-day EMA
- PRICE: 109-24 @ 15:07 BST Oct 24
- SUP 1: 108-26+ Low Oct 21
- SUP 2: 108-06+ Low Oct 2007 (cont)
- SUP 3: 107.09 3.0% 10-dma envelope
- SUP 4: 106-20+ Low Aug 2007 (cont)
Despite the recovery from Friday’s low, Treasuries remain in a downtrend. The extension lower last week confirmed a break of support at 110.02, the Oct 13 low and the psychological 110.00 handle. This marks a resumption of the primary downtrend and an extension of the bearish price sequence of lower lows and lower highs. The focus is on 108-20, a Fibonacci projection. Initial firm resistance has been defined at 111-28+, high Oct 13.
US TSY OPTIONS: BLOCK, 5Y Put Sale
- -10,000 FVZ2 105 puts, 25.5 ref 106-04.75 at 1000:15ET
UK: Sunak-'First Priority Is Economic Stability, Then Can Look @ 2019 Manifesto'
Wires reporting comments from incoming UK PM Rishi Sunak to Conservative party MPs.
- According to senior Conservative MP Iain Dunacn Smith, Sunak told lawmakers that the first priority is economic stability, then can look to deliver 2019 manifesto promises.
- Sunak 'told lawmakers that he would concentrate on policies rather than people', said the party 'only had one shot of getting this right' and called for unity according to ITV
- The Sun reports that Sunak told MPs that every wing of the party will be in his Cabinet.
- Blackrock states that it has upgraded gilts from underweight to neutral due to improved perceptions of fiscal credibility.
- Sunak said to have ruled-out a snap general election. Says that the party faces an 'existential crisis'.
- Paul Waugh at The i Paper says Sunak said the importance of 'sustainable growth, and need for Net Zero agenda, as well as only delivering tax cuts when the economy/public finances allowed them.'
