MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Asian Refiners Assess Impact of Geopolitics on Logistics and Supply: Platts

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Asian refiners are assessing the impact of higher freight and maritime insurance fees amid continued tension in the Middle East, according to Platts.

  • Platt said that refiners were not overly worried about the security of crude supplies, with neither Iran, nor Israel wanting to take steps to damage relations with far East nations
  • Refiners’ major concern is that the conflict elevates freight costs and raises maritime insurance premiums.
  • Some Asian buyers have looked to diversify their crude sources as a precautionary measure. This has come in the form of cutting back on some spot deals and looking to WAF or the US.
  • In South Korea, crude imports in March were down 11.2% on the year to 81.51m bbl, or 2.63m b/d.
  • South Korea’s crude imports from Saudi Arabia were down 1.8% on the year to 29.8m bbl, while US imports were up 9.9% on the year to 11.46m bbl.

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Asian refiners are assessing the impact of higher freight and maritime insurance fees amid continued tension in the Middle East, according to Platts.

  • Platt said that refiners were not overly worried about the security of crude supplies, with neither Iran, nor Israel wanting to take steps to damage relations with far East nations
  • Refiners’ major concern is that the conflict elevates freight costs and raises maritime insurance premiums.
  • Some Asian buyers have looked to diversify their crude sources as a precautionary measure. This has come in the form of cutting back on some spot deals and looking to WAF or the US.
  • In South Korea, crude imports in March were down 11.2% on the year to 81.51m bbl, or 2.63m b/d.
  • South Korea’s crude imports from Saudi Arabia were down 1.8% on the year to 29.8m bbl, while US imports were up 9.9% on the year to 11.46m bbl.

Keep reading...Show less