OIL: Higher Brent Prices in 2025 on Oil Stockpile Draw: StanChart
Jan-08 11:02
An implied oil stockpile draw of 200kb/d is predicted this year with global demand growth “close to trend” set against projections for OPEC and non-OPEC supplies, according to Standard Chartered cited by Bloomberg.
- Global demand growth is expected about 1.3mb/d in 2025 and 1.2mb/d in 2026.
- Slowing output growth and expanding demand is forecast to lead to higher prices with “no inevitable supply glut.”
- Brent is forecast to average $89/bbl in Q1 2025, $92/bbl in Q2, $95 in Q3 and $93/bbl in Q4.
- “The 2025 and 2026 balances imply that OPEC+ will remain well in control, especially if the recent improvement in compliance with targets is maintained.”
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OUTLOOK: Price Signal Summary - EUROSTOXX 50 Futures Bull Cycle Still In Play
Dec-09 10:56
- The S&P E-Minis contract maintains a bullish tone and price is trading at its latest highs. Recent gains confirm a resumption of the uptrend and signal scope for a continuation near-term. Note that moving average studies are in a bull-mode set-up, highlighting a dominant uptrend and positive market sentiment. Sights are on 6145.26, a 1.236 projection of the Aug 5 - Sep 3 - 6 price swing. Initial support to watch lies at 6009.42, the 20-day EMA.
- EUROSTOXX 50 futures traded higher last week and the contract is holding on to the bulk of its latest gains. The move higher undermines a recent bearish theme. Price has traded through the 50-day EMA, at 4873.27. The clear breach of this average strengthens a bullish theme and note that 4961.00, the Nov 6 high, has also been pierced. This opens 5015.00, the Oct 29 high. Key support is 4699.00, the Nov 19 low. Initial support lies at 4844.40, the 20-day EMA.
EQUITIES: Deutsche Bank Put seller
Dec-09 10:50
Decent single stock Bank Option, multiple clips, Deutsche:
- DBK (21st Feb) 13p, sold at 0.10 in ~11k.
This suggest a new position, there's only 21 lots in OI in that strike.
DUTCH T-BILL AUCTION RESULTS: 2.5-month / 5.5-month DTCs
Dec-09 10:36
| Type | 2.5-month DTC | 5.5-month DTC |
| Maturity | Feb 27, 2025 | May 28, 2025 |
| Amount | E1.05bln | E1bln |
| Target | E1.0-2.0bln | E1.0-2.0bln |
| Previous | E1.83bln | E1.46bln |
| Avg yield | 2.73% | 2.571% |
| Previous | 2.955% | 2.755% |
| Bid-to-cover | 2.67x | 2.12x |
| Previous | 1.47x | 1.37x |
| Previous date | Nov 18, 2024 | Nov 18, 2024 |
Source: Bloomberg
