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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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MNI INTERVIEW2: Poland To Push For EU Defence Fund
China Crude Buyers Pause Purchase of Russian Oil Ahead of Price Cap
- The EU watered down its latest sanctions proposal for a price cap on Russia’s oil exports by delaying its full implementation and softening key shipping provisions, Bloomberg report. Allies had previously discussed setting the cap somewhere between $40 and $60 per barrel but people familiar with recent discussions said it would likely be slightly above that. EU ambassadors are scheduled to meet today with the aim of approving the cap, and if an agreement is made, the EU and G7 could announce the cap as early as this evening.
- China’s crude buyers have paused purchases of some Russian oil as they wait for details of a US-led cap to see if it presents a better price, Bloomberg report. Several cargoes of Russian ESPO crude for December-loading remain unsold and there’s hesitation among sellers and Chinese buyers to close deals before more clarity on the exact price cap level is known, according to traders with knowledge of the matter.
- President Putin will travel to Yerevan for summit of the Collective Security Treaty Organization, where he will meet with Armenian prime minister Nikol Pashinyan. Data-wise, industrial production is on the docket today where a further -3.9% contraction is expected from a prior -3.1%. PPI and weekly CPI figures are also scheduled for release, with all data crossing at 1600GMT/1900 local time.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.