MNI China Daily Summary: Friday, February 28

MNI: EU Seeks To Avoid Stigma From Fiscal Opt Outs For Defence

MNI BRIEF: Consumer Inflation Outlook Slows - ECB Survey

MNI BRIEF: Xi Calls For Greater Consumption To Boost Demand

MNI BRIEF: China To Fight Against Extra U.S. Tariffs: MOFCOM

MNI BRIEF:China's Politburo Eyes More Proactive Macro Policies

MNI: GERMANY NRW FEB CPI +0.4% M/M, +1.9% Y/Y

MNI: BADEN WUERT FEB CPI +0.5% M/M, +2.5% Y/Y

MNI: BAVARIA FEB CPI +0.4% M/M, +2.4% Y/Y

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

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OIL: Oil End of Day Summary: Crude Rises

OIL
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Oil has moved higher on Israel headers that Hamas hostage release delay violates ceasefire deal, with military reportedly on high alert.

  • WTI MAR 25 up 2% at 72.42$/bbl
  • Following Hamas' announcement that the next release of Israeli hostages planned for the weekend had been postponed, Defence Minister Israel Katz claims that Hamas not releasing hostages "is a violation of the ceasefire deal"
  • US President Trump said that 25% tariffs on all steel and aluminium imports would be announced on Monday. These could impact investment in the US energy sector, particularly for drillers, who require a certain type of steel, according to Bloomberg.
  • China’s retaliatory measures for 10-15% tariffs on imports of US oil and gas have come into effect today, in response to the US 10% tariff on all imports from China.
  • Trump said on Sunday that he had spoken to Russian President Putin about ending the war in Ukraine and that “it’s going to end”. A Kremlin spokesman said he could neither confirm nor deny that a conversation had taken place.
  • Ramped up sanctions on Iran are resulting in building Iranian barrels at sea and harsher Russian restrictions are supportive of crude markets.
  • Russia’s crude production slipped marginally below OPEC+ quotas in January according to sources speaking with Bloomberg.
  • The new U.S. administration can lower domestic energy prices by helping to lower the cost of operations according to the U.S. Energy Secretary.
  • Tariffs and counter-tariffs have the potential to weigh on the oil-intensive part of the global economy in particular, creating uncertainty over demand, Morgan Stanley analysts said.
  • Alaska’s ANS crude could be another crude grade featured in Japan’s feedstock basket in 2025, as refiners assess its economics. Platts said.
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Oil has moved higher on Israel headers that Hamas hostage release delay violates ceasefire deal, with military reportedly on high alert.

  • WTI MAR 25 up 2% at 72.42$/bbl
  • Following Hamas' announcement that the next release of Israeli hostages planned for the weekend had been postponed, Defence Minister Israel Katz claims that Hamas not releasing hostages "is a violation of the ceasefire deal"
  • US President Trump said that 25% tariffs on all steel and aluminium imports would be announced on Monday. These could impact investment in the US energy sector, particularly for drillers, who require a certain type of steel, according to Bloomberg.
  • China’s retaliatory measures for 10-15% tariffs on imports of US oil and gas have come into effect today, in response to the US 10% tariff on all imports from China.
  • Trump said on Sunday that he had spoken to Russian President Putin about ending the war in Ukraine and that “it’s going to end”. A Kremlin spokesman said he could neither confirm nor deny that a conversation had taken place.
  • Ramped up sanctions on Iran are resulting in building Iranian barrels at sea and harsher Russian restrictions are supportive of crude markets.
  • Russia’s crude production slipped marginally below OPEC+ quotas in January according to sources speaking with Bloomberg.
  • The new U.S. administration can lower domestic energy prices by helping to lower the cost of operations according to the U.S. Energy Secretary.
  • Tariffs and counter-tariffs have the potential to weigh on the oil-intensive part of the global economy in particular, creating uncertainty over demand, Morgan Stanley analysts said.
  • Alaska’s ANS crude could be another crude grade featured in Japan’s feedstock basket in 2025, as refiners assess its economics. Platts said.