MNI China Daily Summary: Friday, April 12

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: PBOC Injects Net CNY2 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA END-MAR M2 +8.3% Y/Y VS MEDIAN +8.8%; END-FEB +8.7% Y/Y

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

Final March Inflation Reading Confirms Softening Core Dynamics

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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Oil Market Ticking Higher After IEA Oil Demand Revision

OIL

Oil prices have ticked higher in today’s session after a flat start in early trading.

  • The IEA monthly report came out earlier today, which raised its forecast for oil demand this year, in part because of a gas to oil switch due to market tightness. It raised its 2022 oil demand outlook by 380,000 bpd.
  • A resumption in oil flows on the Druzhba pipeline yesterday and a 5.5mn bbl bump in US crude stocks in the latest EIA report have kept a cap on prices in recent trading, while tumbling US gasoline stocks have supported a brighter demand picture during the summer driving season than thought in recent weeks.
  • Brent OCT 22 up 0.9% at 98.28$/bbl
  • WTI SEP 22 up 0.9% at 92.78$/bbl
  • US 321 crack up 1.4$/bbl at 43.08$/bbl
  • US gasoline crack up 0.9$/bbl at 37.74$/bbl
Energy BulletsCommodities
Energy BulletsCommodities

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