OIL PRODUCTS: Pemex’s Deer Park Refinery to Conduct Multiunit Spring Turnaround

Apr-03 2024 18:07

The Pemex Deer Park refinery on the Houston Ship Channel is conducting a multiunit spring turnaround including the crude unit and a hydrocracker, according to Bloomberg.

  • Work is staggered with maintenance having started in March and lasting till the third week of May.
  • The turnaround includes 70k b/d DU-1 crude unit, 60k b/d hydrocracker, 35k b/d VDU, and the sulphur recovery unit.
  • Deer Park has a capacity of 313k b/d and is located 20 miles east of downtown Houston.

Historical bullets

EURUSD TECHS: Watching Resistance

Mar-04 2024 18:00
  • RES 4: 1.1046 High Jan 2
  • RES 3: 1.0998 High Jan 5
  • RES 2: 1.0932 High Jan 24
  • RES 1: 1.0888/98 High Feb 22 and a key resistance / High Feb 02
  • PRICE: 1.0858 @ 16:35 GMT Mar 4
  • SUP 1: 1.0762/0695 Low Feb 20 / 14 and the bear trigger
  • SUP 2: 1.0656 Low Nov 10
  • SUP 3: 1.0611 76.4% retracement of the Oct - Dec bull leg
  • SUP 4: 1.0568 Low Nov 2

EURUSD continues to trade below its Feb 22 high. The pair has pierced resistance around the 50-day EMA - at 1.0834. A clear break of this EMA is required to highlight a stronger reversal. Resistance at 1.0888, Feb 22 high, is also an important price point. A breach would open 1.0932, Jan 24 high. For bears, the pattern on Feb 22 is a shooting star candle and a possible reversal signal. A stronger move lower would expose 1.0695, Feb 14 low.

US TSY OPTIONS: Jun'24 5Y Call Condor

Mar-04 2024 17:57
  • 6,400 FVM'24 110.5/111.25/112/112.75 call condors ref 107-04 to -03.75

OPTIONS: Larger FX Option Pipeline

Mar-04 2024 17:48
  • EUR/USD: Mar06 $1.0760(E1.2bln), $1.0800(E1.8bln), $1.0840-50(E1.9bln), $1.0865-75(E3.7bln), $1.0950(E1.8bln); Mar07 $1.0775-90(E1.9bln), $1.0810-25(E1.8bln); Mar08 $1.0800(E1.3bln), $1.0820-30(E1.5bln)
  • USD/JPY: Mar06 Y151.10($1.1bln); Mar07 Y150.25-35($1.6bln), Y150.90-05($1.9bln)
  • GBP/USD: Mar07 $1.2480-85(Gbp1.9bln)
  • USD/CAD: Mar07 C$1.3630-35($1.1bln); Mar08 C$1.3590-00($1.2bln)
  • USD/CNY: Mar07 Cny7.1940-50($1.1bln)