Forex Futures Forum Archive for 01/17/2006

houston st 21:33 GMT January 17, 2006 Reply   

today was Feb06 options expiry, which also added some volatility to the mkt...Feb06 emini crude terminates on Jan 19, and Feb06 full contract terminates on Jan 20, fyi.

houston st 20:35 GMT January 17, 2006 Reply   

one other item that helped support the mkt today was something I had posted earlier but forgot to mention in my recap:

*IEA sees global oil demand accelerating in 2006, up 1.83-mbpd vs. 1.09-mbpd in 2005 as US and Chinese demand recover. Non-OPEC supply is seen nearly flat year-on-year.

houston st 20:10 GMT January 17, 2006 Reply   

01/17/06 Energy Settles:

Crude $66.31 (+$2.39); high $$66.45; low $64.95
Nat Gas $9.168 (+377); high $9.290; low $9.020
Heat $1.7915 (+765); high $1.7970; low $1.7500
Mogas $1.8233 (+922); high $1.8250; low $1.7550

crude & co. gapped up +.90/bbl @ the Access open on Sunday and never really looked back, primarily due to nervousness surrounding new violence in Nigeria and ongoing concerns w/ Iran...some colder weather over the weekend and a couple of announcements about upcoming ref shutdowns just added to the buying frenzy, as cash & futures players moved already high products prices even higher...mogas gas is now more then 3/cpg over heat in the dead of winter...nat gas now back above the $9 level...no stats until Thursday so geopolitical/refinery/weather issues should continue to drive us for now...hearing funds targeting $68 handle or higher, fwiw...back tom.

GVI john 19:18 GMT January 17, 2006 Reply   
10s minus 2s now about +0.4 bp
(4.34% - 4.336%)

houston st 18:57 GMT January 17, 2006 Reply   

*Western Refining plans to shut the 52,000-bpd south plant of its 108,000-bpd El Paso, TX refinery beginning January 22.

houston st 18:09 GMT January 17, 2006 Reply   

*Conoco Phillips is planning scheduled maintenance on its 263,000-bpd Bayway refinery in Linden, NJ for five weeks beginning at the end of February.

houston st 16:40 GMT January 17, 2006 Reply   

*Iraqi crude flows to the port of Ceyhan were stopped at midday Monday in order to rebuild stocks at Kirkuk following a one-day pumping restart. Flows had run at a rate of 22,000-bbl/hour.

*IEA sees global oil demand accelerating in 2006, up 1.83-mbpd vs. 1.09-mbpd in 2005 as US and Chinese demand recover. Non-OPEC supply is seen nearly flat year-on-year.

houston st 15:50 GMT January 17, 2006 Reply   

energy news:

*Saudi Aramco has contracted four VLCCs this week to ship 8.2 million barrels of crude to the US in early February.

*OPEC president Edmund Daukoru said ministers might have to consider cutting crude production at their Jan 31 meeting in order to prevent a decline in prices. Though he conceded that prices are high right now, he is concerned with what happens in 3-4 months. “The situation is very delicate.”

*Citgo shut a catalytic cracker at its 165,000-bpd Corpus Christi, TX refinery for unplanned work on Sunday though traders said it had returned Tuesday morning.

*Colonial Pipeline extended allocations on its distillate pipeline because shipments exceeded pipeline capacity.

*Russian oil production has been cut by an average 200,000-bpd to 9.45-mbpd Jan 10-16 as compared with December’s average 9.65-mbpd, an all-time high. Extreme cold in the main producing area of West Siberia hindered output.

*Canadian Nat gas storage fell 12.9-bcf to 373.2-bcf or 70.0% full for the week ended Jan 6.

Canada R 06:13 GMT January 17, 2006 Reply   
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Milan Pm 00:40 GMT January 17, 2006 Reply   
Tokyo rubber prices soar to 21-year high


January 17 2006


BANGKOK, Mon: Asian rubber prices rose today, backed by tight supply in Thailand and Indonesia, the main producers, and a rally in Tokyo rubber futures to their highest in more than 21 years, dealers said.
Prices on the Tokyo Commodity Exchange (Tocom), the global trend setter for rubber, rose on active fund buying amid expectations that market fundamentals would remain bullish this year, brokers said.


The benchmark June 2006 rubber contract ended up 4.9 yen at 231.0 yen per kg.


“Active buying by fund operators pushed prices up sharply as concerns over supplies linger,” said Shuji Sugata of Mitsubishi Corp Futures Ltd.


However, the market was cautious about chasing rubber prices on rallies with plenty of profit-takers showing interest in selling the key June contract above 230 yen, Sugata said. — Reuters