OIL: Weekly Russian Crude Shipments Fall
Sep-17 12:45
Russia’s four-week average seaborne crude shipments edged up by about 40kb/d in the week to Sep. 14 to 3.46mb/d, according to Bloomberg.
- The weekly exports fell by 934kb/d to 3.18mb/d driven by a drop in Baltic loadings amid drone strike on regional facilities.
- The decline reverses the surge higher seen the previous week driven by Urals from Black Sea and Baltic ports.
- Weekly exports from Primorsk fell to 730kb/d to the lowest since July after a brief suspension following a drone attack. Ust Luga exports also halved to about 313kb/d on the week possibly due to strikes on three feeder pumping stations.
- Russia’s crude processing in the first 10 days of September also averaged around 4.97m b/d. The rate is more than 70k b/d below levels in late-August.
Source: Bloomberg Finance L.P.
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CANADA DATA: July Housing Starts +4% Led By Vancouver
Aug-18 12:45
- Seasonally adjusted housing starts +4% to 294,085 units in July from 283,523 units in June.
- The six-month moving average trend in July +3.7% to 263,088 from +3.6% in June.
- Among the three big cities, Montreal posted +212% YOY in actual housing starts driven by higher multi-unit starts. Vancouver saw +24% YOY rise while Toronto -69% YOY due to a drop in multi-unit and single-detached starts in July.
- The year-to-date total was 137,875, up 4% from the same period in 2024.
GLOBAL POLITICAL RISK: Week Ahead 18-24 August
Aug-18 12:39
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(MNI) London – All timings are subject to change.
Monday 18 August:
- Global: US President Donald Trump hosts Ukrainian President Volodymyr Zelenskyy at the White House following the former’s meeting with Russian President Vladimir Putin on 15 August. In contrast to the ill-tempered Oval Office meeting in February, this time around, Zelenskyy will be supported in person by the leaders of Germany, the UK, France, Italy, Finland, and the European Commission. Trump will meet with Zelenskyy first at 13:00ET/18:00BST/19:00CET, followed by the European leaders at 15:00ET/20:00BST/21:00CET. While Zelenskyy and the European leaders will seek to impress upon Trump the requirement for security guarantees for Ukraine, the US president has already sought to rule out the return of Crimea and the prospect of Ukrainian NATO membership.
US TSY OPTIONS: Large Sep'25 5Y Call Buy
Aug-18 12:38
- +30,000 FVU5 109.25 calls, 2, time & sales shows print at 0830:20ET.
