MNI BRIEF: China Equip't Renewal Policy Includes Foreign Firms

MNI China Daily Summary: Wednesday, July 17

MNI China Press Digest July 17:  Investment, LPR, H2 Priority

MNI: PBOC Net Injects CNY268 Bln Via OMO Wed; Rates Unchanged

CHINA PBOC CONDUCTS CNY270 BILLION VIA 7-DAY REVERSE REPOS WED

MNI: PBOC Sets Yuan Parity Lower At 7.1318 Wed; -1.32% Y/Y

Foreigners Buy CAD20.9B of Canada Securities In May Led By Debt

MNI: US JUN HOUSING STARTS 1.353M; PERMITS 1.446M

MNI: FOREIGN HOLDINGS OF CANADA SECURITIES +20.9B CAD IN MAY

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

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Iran’s New Reformist Regime Spurs Hope of Stable Flows to Asian Buyers

OIL
Energy BulletsHomepagemarkets-real-timeBulletCommodities

Asian importers are hoping for some normalcy to oil trade flows from Iran as the country’s new president pushes for a thaw in Tehran’s relations with the West, Platts said.

  • The appointment of reformist politician Masoud Pezeshkian as Iran’s new president may not immediately change Washington’s policy towards Tehran, but Asian buyers are glimpsing light at the end of the tunnel.
  • Pezeshkian has called sanctions on Iran a disaster and questioned the current government for what he said was selling oil below market price.
  • Nonetheless, the ultimate authority on foreign policy and domestic decisions lies with the Supreme Leader Ayatollah Ali Khamenei, who is much more confrontational with the West.
  • South Korean and Japanese buyers are particularly hopeful for a restart in dialogue or negotiations with Iran, having been big buyers of its oil.
  • Iran remains a key supplier to China, despite sanctions, with Shandong’s Teapots taking around 1.4m-1.6m b/d.

Keep reading...Show less
154 words

To read the full story

Close

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.

Asian importers are hoping for some normalcy to oil trade flows from Iran as the country’s new president pushes for a thaw in Tehran’s relations with the West, Platts said.

  • The appointment of reformist politician Masoud Pezeshkian as Iran’s new president may not immediately change Washington’s policy towards Tehran, but Asian buyers are glimpsing light at the end of the tunnel.
  • Pezeshkian has called sanctions on Iran a disaster and questioned the current government for what he said was selling oil below market price.
  • Nonetheless, the ultimate authority on foreign policy and domestic decisions lies with the Supreme Leader Ayatollah Ali Khamenei, who is much more confrontational with the West.
  • South Korean and Japanese buyers are particularly hopeful for a restart in dialogue or negotiations with Iran, having been big buyers of its oil.
  • Iran remains a key supplier to China, despite sanctions, with Shandong’s Teapots taking around 1.4m-1.6m b/d.

Keep reading...Show less