AMERICAS OIL: SUPERTANKER TRACKER: Oil Flows to US Climb to Four-Month High
Feb-21 15:39
SUPERTANKER TRACKER: Oil Flows to US Climb to Four-Month High
- Bloomberg reports US-bound supertankers rose to the highest in almost four months, according to vessel-tracking data compiled by Bloomberg. The flow to India climbed to the highest since January 2023.
- 95 ships are headed for China, nudging lower by three from last week.
- 39 tankers are going to the US, the highest since Oct. 25.
- 23 vessels for India, up by one on the week and the highest since January 2023.
- Saudi Arabia climbed by 12 to 26, the highest since Jan. 17.
- Angola slipped by one to 9
- Brazil slipped by one to 21
- 543 vessels signaled future destinations on Friday, compared with 549 last week; the data are based on vessels with arrival dates through May 22.
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GILT AUCTION PREVIEW: On offer next week
Jan-22 15:32
The DMO has announced it will be looking to sell GBP3bln of the 0.875% Jul-33 Green Gilt (ISIN: GB00BM8Z2S21) at its auction next Wednesday, January 29.
EURIBOR OPTIONS: Latest Option flows
Jan-22 15:27
- ERM5 97.87/97.75/97.62p fly bought for 2.5 in 14.8k, done straight and vs futures.
- ERM5 98.00/98.50/99.00c fly, bought for 3 in 10k total.
- ERM5 97.75/97.87/98.00c fly, bought for 1.25 in 4k, total 17k total.
NOK: O/N NOKSEK Vols Relatively Subdued Ahead Of Norges Bank Decision
Jan-22 15:18
Norges Bank is unanimously expected to remain on hold at tomorrow’s meeting, while continuing to guide for a rate cut in March. As such, markets are well priced for an uneventful outcome, with overnight ATM NOKSEK vols of 7.5 below prevailing levels ahead of the September, November and December 2024 decisions. An overnight NOKSEK straddle would thus require just a 30 pip (~0.3%) swing to breakeven.
- On the downside, key support remains at 0.9717 (Jan 2 low). Clearance of this level would undermine the corrective rally which began at the start of this year and expose trendline support drawn from the August 2024 low at 0.9667.
- The Jan 15 high at 0.9859 represents initial resistance, coinciding with the 61.8% retracement of the Nov 22nd – Dec 20th bear leg.
- We view the risks to tomorrow’s decision as slightly tilted in a hawkish direction, with the weak exchange rate, higher commodity prices and increases in global implied policy rates all hawkish inputs into Norges Bank’s framework.
- One area of interest amongst analysts ahead of the decision is whether the weak exchange rate will return to having a prominent role in the policy statement’s risk assessment.
- MNI’s preview of the decision is here.
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