MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI: NORWAY NOV CPI +0.3% M/M, +2.4% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Biden and MBS Push for Middle East De-Escalation

OIL

US President Biden and Saudi Crown Prince Mohammed Bin Salman spoke Tuesday by phone and focussed de-escalation in the Middle East while hinting at a possible return to normalisation talks with Israel.

  • Biden and bin Salman “affirmed the importance of working toward a sustainable peace between Israelis and Palestinians as soon as the crisis subsides,” according to an official statement.
  • “The two leaders agreed on pursuing broader diplomatic efforts to maintain stability across the region and prevent the conflict from expanding,” the White House said.
  • Efforts to de-escalate the situation as well as hostage releases are supporting a lessened chance of spillovers and softening crude markets.
  • The White House added the two nations will continue co-operations measures "building on the work that was already underway between Saudi Arabia and the United States over recent months."
  • The US led, Saudi/Israel normalisation deal has been put on ice at present because of the attacks with fears progress in the talks could have spurred them on.
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