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

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

OIL: Crude Extends Decline Through Weekly Low

OIL

Crude extends the earlier decline through the Brent front month low of $80.51/bbl from July 23.

  • Bearish sentiment is driven by concern for weak demand in China and with hope for progress in a ceasefire deal in the Middle East to offset recent US stocks draws.
  • Crude backwardation is also softening with Dec24-Dec25 falling to the lowest since June 11.  The prompt spread is also down to levels seen earlier this month despite some support from the current tighter market amid OPEC+ cuts and member commitments to compensate for overproduction.
    • Brent SEP 24 down 1.7% at 80.32$/bbl
    • WTI SEP 24 down 1.7% at 76.24$/bbl
    • Brent SEP 24-OCT 24 down 0.05$/bbl at 0.84$/bbl
    • Brent DEC 24-DEC 25 down 0.38$/bbl at 3.66$/bbl
    • WTI SEP 24-OCT 24 down 0.01$/bbl at 1$/bbl
    • WTI DEC 24-DEC 25 down 0.37$/bbl at 4.09$/bbl
BulletEnergy BulletsCommodities
BulletEnergy BulletsCommodities

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.