MNI China Daily Summary: Friday, December 27

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MNI JAPAN NOV FACTORY OUTPUT DROPS 2.3% M/M; OCT +2.8%

MNI JAPAN NOV JOBLESS RATE AT 2.5%, UNCHANGED FROM OCT

US EIA:NAT GAS STORAGE -93 BCF TO 3,529 BCF DEC 27 WK

MNI: US JOBLESS CLAIMS -1K TO 219K IN DEC 21 WK

MNI: US REDBOOK: DEC STORE SALES +5.0% V YR AGO MO

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AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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OIL: Oil Edges Lower on US Data.

OIL
BulletEnergy BulletsCommodities
  • The US reported the highest number of people with recurring applications for unemployment benefits in three years, pushing thin trading markets for oil lower.
  • WTI dipped below US$70 to lows of $69.33, only to edge higher into the Asia open at $69.64.
  • Brent had reached a high of US$74.17 before falling down to $72.99 briefly, edging up to $73.26.
  • The American Petroleum Institute said that inventories fell 3.2m barrels last week, the fifth consecutive drop.   
  • US crude exports to China declined by more than a half in 2024 driven by both the slowing of the domestic economy and a shift in purchasing to Iranian oil.
  • In Singapore data out shows total stockpiles fell by the most since 2004. 
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  • The US reported the highest number of people with recurring applications for unemployment benefits in three years, pushing thin trading markets for oil lower.
  • WTI dipped below US$70 to lows of $69.33, only to edge higher into the Asia open at $69.64.
  • Brent had reached a high of US$74.17 before falling down to $72.99 briefly, edging up to $73.26.
  • The American Petroleum Institute said that inventories fell 3.2m barrels last week, the fifth consecutive drop.   
  • US crude exports to China declined by more than a half in 2024 driven by both the slowing of the domestic economy and a shift in purchasing to Iranian oil.
  • In Singapore data out shows total stockpiles fell by the most since 2004.