MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI: NORWAY NOV CPI +0.3% M/M, +2.4% Y/Y

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Oil Mid-Day Summary: Crude Continues Decline

OIL

Crude is extending yesterday’s decline from yesterday ahead of the Fed decision later today as stronger US inflation indicators are pressuring markets. API data showing a US crude build ahead of EIA data is also adding resistance.

  • Brent JUL 24 down 1.4% at 85.16$/bbl
  • WTI JUN 24 down 1.6% at 80.65$/bbl
  • US secretary of state Blinken is in Israel for discussions with Netanyahu and other government officials. There is hope that a Gaza ceasefire deal can be agreed, the prospect of which has eroded oil’s geopolitical risk premium this week.
  • US crude stockpiles increased by 4.9 mn bbls last week, according to the API figures. The official EIA weekly petroleum inventory stocks data is due to release later today.
  • ARA crude storage fell 4.2mn bbls or 7.2% in the week ended April 26 to 54.2mn bbls according to Genscape.
  • The Canada Energy Regulator (CER) approved the final permits for the Trans Mountain Pipeline extension on Tuesday – opening the way for it to begin operating.
  • An oversupply of Aframax tankers on the west coast of the Americas in anticipation of the TMX pipeline startup pressed Vancouver loading rates to a six-month low towards the end of April according to Argus reports.
Energy BulletsHomepageBulletCommodities
Energy BulletsHomepageBulletCommodities

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.