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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Crude Futures Tread Water

OIL

Crude futures have hugged a narrow range in Asia-Pac trade on Friday; WTI is down $0.06 from settlement levels at $63.40/bbl, while Brent is down $0.03 at $66.91/bbl. WTI is on track for gains of around 7% this week, its best week since early March.

  • A number of positive signals on demand this from week from the IEA and OPEC have helped oil gather momentum and break out of recent ranges. Data from China earlier was slightly below estimates but still showed an economy progressing at a decent clip and should also be supportive of demand going forward. Earlier in the session CNPC said China's oil demand is expected to rise 1% this year.
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