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Views on Commodities
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  • Squawk / 53 minutes ago
    Ole Hansen Ole Hansen
    Head of Commodity Strategy / Saxo Bank
    Denmark
    Crude inventories rose more than expected partly due to the current release of oil from strategic reserves while gasoline inventories drops less than expected. Overall negative with RBOB Gasoline down 0.6% following the release.
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    52m
    Ole Hansen Ole Hansen
    Graphic overview attached. US Crude inventories jump to highest level since records began in 1982
  • Squawk / 53 minutes ago
    Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
    Technical Analyst / FuturesTechs
    United Kingdom
    Watch 1865 in the S&P 500 (June '14) Futures. If we break this level we'd likely see a reaction back to 1850 then 1840. If it holds all's well in the Bull camp. it was Monday's day session high and yesterday's day session low, so a "pivotal" level (filled gap if you like).
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  • Calendar event / 56 minutes ago
    Med EIA Weekly Petroleum Status Report
    Med Gasoline Stocks
    210.008M
    Med Gasoline Stocks (Net Change)
    -1.4M
    -0.274M
    Med Distillate Stocks (Net Change)
    -0.3M
    +0.597M
    Med Crude Oil Stocks
    397.659M
    Med Distillate Stocks
    112.513M
    Med Crude Oil Stocks (Net Change)
    +2.4M
    +3.524M
    Med Refinery Usage
    89.1%
    91%
    Med Total Products Supplied
    18.051M
    Med Total Products Supplied (Net Change)
    -0.361M
  • Squawk / 1 hour ago
    Ole Hansen Ole Hansen
    Head of Commodity Strategy / Saxo Bank
    Denmark
    US inventory data due shortly at 16:30 CET. US Crude inventories are expected to rise for the 13th time in 14 weeks, this time by around 2.5 million barrels. Some focus on gasoline inventories after the price has risen to the highest since last August as refinery maintenance reduce supplies for a ninth straight week. The changing inventory levels between Cushing and PADD3 (Gulf of Mexico) could also trigger a reaction. Link to calendar: https://www.tradingfloor.com/posts/us-eia-weekly-petroleum-status-report-2361284
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  • Squawk / 1 hour ago
    Mads Koefoed Mads Koefoed
    Head of Macro Strategy / Saxo Bank
    Denmark
    New home sales plummets 14.5% month-on-month to 384,000 in March in the US, far from the consensus expectation of +2.3%. Furthermore the decline in new home sales in February was revised to 4.5% from 3.3%.

    Sales declined most in the Midwest to 51,000 from 65,000, a drop of 21.5% m/m, followed by the West and South. The Northeast recorded a minor increase to 27,000 from 24,000.

    While the report surprised consensus it would not come as a shock to those watching the housing starts series, which had been signalling a drop in sales (chart 1).
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  • 1h
    rhodium rhodium
    Yes Mr. Kim, exactly right. You & Mr. Ole Hansen posted today. I did post the same analysis 2 days back. :)
  • Squawk / 6 hours ago
    Mads Koefoed Mads Koefoed
    Head of Macro Strategy / Saxo Bank
    Denmark
    The government-to-GDP ratio climbed to 92.6% in the euro are in 2013 from a revised 90.7% in 2012 (90.6% initially). This is the highest debt-to-GDP ratio on record.
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