MNI: UK FINAL JAN MANUF PMI 48.3 (FLASH: 48.2); DEC 47.0

MNI: EUROZONE FINAL JAN MANUF PMI 46.6 (FLASH: 46.1); DEC 45.1

MNI: GERMANY FINAL JAN MANUF PMI 45.0 (FLASH: 44.1); DEC 42.5

MNI BRIEF: Fed's Goolsbee Supports Slowing Rate Cuts

MNI BRIEF: US Dec Core PCE Inflation In Line With Expectations

MNI BRIEF: Fed's Bowman Wants Inflation Progress Before Cuts

MNI: ITALY JAN FLASH HICP -0.7% M/M, +1.7% Y/Y

MNI: EUROZONE JAN FLASH HICP +2.5% Y/Y

MNI: FRANCE FINAL JAN MANUF PMI 45.0 (FLASH: 45.3); DEC 41.9

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

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OIL: Libyan Supply Potential Offsetting Rising Middle East Tensions.

OIL
  • West Texas Intermediate has stabilized for now above $68 as news breaks of the potential ground raids by Israel into Lebanon.
  • As the markets digests the impending supply coming on line from Libya, it comes at a time when the ever evolving situation in the Middle East conflict evolves further.
  • WTI is trading at $68.27 in the Asia morning session, with Brent at $71.70.
  • Alongside the anticipated return of supply from Libya (following a compromise reached by regional governments over the new Central Bank Head for the country) OPEC has indicated that it will stick to its original plan to bring back online further production.
  • All of this occurs against a backdrop of slowing global growth with China slowing down and the US cutting rates to avoid a rapid slowdown.
  • For September, West Texas saw a decline of 7.30% and Brent 5.95%.  
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