LNG: Vietnam LNG Terminal Receives Commissioning Cargo from Russia
Jun-04 07:42
Vietnam's Cai Mep LNG terminal received a commissioning cargo from Russia on May 25, according to data from LSEG and Kpler cited by Reuters.
- The cargo on the Blue Dragon 1 LNG tanker was from Russia's Sakhalin 2 project and the first supply from the LNG producer to Vietnam.
- Cai Mep LNG is on track to be Vietnam's second operational LNG terminal with capacity to import 3mtpa.
- The terminal was reported in August 2024 to be seeking a commissioning cargo for delivery in October to November.
- Vietnam imports are set to grow amid plans for LNG import terminals and 13 LNG-fired power plants to account for 15% of power generation capacity by 2030.
- Vietnam's first terminal, Thi Vai LNG, has received cargoes from Indonesia, Qatar, Malaysia and Brunei.
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AUD: Best performer within G10s
May-05 07:14
- While just off its best level, the AUD is still the best performer against the Dollar within G10 Currencies, the Aussie has extended through the 2025 high on Friday and has found a boost following Albanese's win over the Weekend.
- Tariffs risks are still the major concern, but some of the continuity in Policy could be seen as supportive at least short Term.
- Next resistance in AUDUSD comes at 0.6528 High Nov 29 ‘24, and upside traction could be on the card, although Trade risks are at the forefront.
SILVER TECHS: Trend Structure Remains Bullish
May-05 07:08
- RES 4: $36.000 - Round number resistance
- RES 3: $34.903 - High Oct 23 ‘24 and the bull trigger
- RES 2: $34.590 - High Mar 28
- RES 1: $33.686 - High Apr 25
- PRICE: $32.385 @ 08:07 BST May 5
- SUP 1: $31.668 - Low May 2
- SUP 2: $30.915/28.351 - Low Apr 11 / 7 and the bear trigger
- SUP 3: $27.686 - Low Sep 6 ‘24
- SUP 4: $27.180 - Low Aug 14 ‘24
A strong rally in Silver on Apr 23 reinforced the current bullish theme. This suggests the latest pullback that started Apr 25, is a correction. Price has traded below support at $322.443, the 50-day EMA. A continuation lower would highlight scope for a deeper retracement and open $30.915, the Apr 11 low. For bulls, resistance to watch is $33.686, the Apr 24 high. Clearance of this level would confirm a resumption of the latest uptrend.
EURIBOR OPTIONS: Put Condor
May-05 07:03
ERU5 98.50/98.37/98.25/98.00p condor, bought for flat in 6.2k.
