MNI: PBOC Net Drains CNY51.03 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1364 Tues; -1.28% Y/Y

CHINA PBOC CONDUCTS CNY216.27 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1364 TUES VS 7.1316

MNI China Daily Summary: Monday, July 29

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: FRANCE Q2 FLASH GDP +0.3% Q/Q, +1.1% Y/Y

MNI: FRANCE JUN CONSUMER SPENDING -0.5% M/M, -1% Y/Y

Australia Jun Total Dwelling Approved -6.5%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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A tepid session for crude, Brent & WTI trade....>

OIL
OIL: A tepid session for crude, Brent & WTI trade around $0.10 above settlement.
- Risk-on flows on the back of the combination of the latest Sino-U.S. trade
developments & stronger than exp. headline U.S. data supported crude on
Thursday, with fresh highs seen on the back of a much larger than exp. drawdown
in headline crude stocks in this week's DoE inventory data, which was at odds
with the API estimate. Distillate & gasoline inventories also witnessed a larger
than exp. drawdown, as did stocks at Cushing, while production edged lower &
refinery utilisation moderated. Crude then edged back ahead of settlement.
- The Argus OPEC survey suggested that cartel production rose by ~150K bpd in
Aug, with those members that are participating in the OPEC+ production pact well
below total quota. Argus suggested that Saudi production rose by 100K bpd, but
that would still put the Kingdom's production over 600K bpd below its agreed
ceiling. Elsewhere Saudi Crown Prince MbS & Iraqi PM Mahdi highlighted the
importance of achieving oil market stability through join cooperation
- Finally, RTRS sources suggested that "Mexico has made the first moves to
launch its annual $1 billion oil hedging program by asking banks for quotes."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Energy BulletsCommodities

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