MNI BRIEF: Highlights of Speech from BOC Deputy Gov Gravelle

Bank Of Canada EXPECTS TO END QT IN the 1ST HALF OF THIS YEAR

MNI BRIEF: Waller Sees Fed Cuts Sooner Than Markets Expect

MNI China Daily Summary: Thursday, January 16

MNI BRIEF: China Shipbuilding Up 13.8% In 2024

MNI: PBOC Net Injects CNY336.4 Bln via OMO Thursday

EZ/UK Bond Supply Calendar: EFSF Synd "Upcoming", Slov Due Mon

US EIA:NAT GAS STORAGE -258 BCF TO 3,115 BCF JAN 10 WK

MNI: US NOV BUSINESS INVENTORIES +0.1%; SALES +0.5%

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OIL: Mid-Day Oil Summary: Crude Drifts Down

OIL
BulletEnergy BulletsCommodities

Crude is drifting down from a high of $75.41/bbl with ongoing geopolitical tensions set against risk of a crude surplus widely expected in 2025.

  • Brent JAN 25 down 0.1% at 75.11$/bbl
  • WTI JAN 25 down 0.1% at 71.15$/bbl
  • The market awaits signs of OPEC’s output plans for 2025 after previous attempts to try and bring barrels back to the market during Q4 were delayed.
  • Trumps administration will roll out a wide-ranging package of energy related policies within days of office according to Reuters sources.
  • Money managers increased net long crude positions last week but with data showing an increase in Brent partly offset by a dip in WTI.
  • China has released an additional crude oil import quota of at least 5.84 million metric tons (116,800 bpd) to independent refiners for cargoes arriving by end-2024 and in early 2025, according to Reuters sources.
  • Kazakhstan oil production is expected to fall to 88.4m tons in 2024 according to Energy Minister Almassadam Satkaliyev cited by Bloomberg
156 words

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.

Crude is drifting down from a high of $75.41/bbl with ongoing geopolitical tensions set against risk of a crude surplus widely expected in 2025.

  • Brent JAN 25 down 0.1% at 75.11$/bbl
  • WTI JAN 25 down 0.1% at 71.15$/bbl
  • The market awaits signs of OPEC’s output plans for 2025 after previous attempts to try and bring barrels back to the market during Q4 were delayed.
  • Trumps administration will roll out a wide-ranging package of energy related policies within days of office according to Reuters sources.
  • Money managers increased net long crude positions last week but with data showing an increase in Brent partly offset by a dip in WTI.
  • China has released an additional crude oil import quota of at least 5.84 million metric tons (116,800 bpd) to independent refiners for cargoes arriving by end-2024 and in early 2025, according to Reuters sources.
  • Kazakhstan oil production is expected to fall to 88.4m tons in 2024 according to Energy Minister Almassadam Satkaliyev cited by Bloomberg