MNI China Daily Summary: Tuesday, December 31

MNI China Press Digest Dec 31: PBOC, Panda Bonds, EVs

MNI: PBOC Net Injects CNY93.6 Bln via OMO Tues

CHINA DEC MANUFACTURING PMI 50.1 VS 50.3 IN NOV

MNI: PBOC Sets Yuan Parity Lower At 7.1884 Tues; -2.65% Y/Y

MNI: China CFETS Yuan Index Down 0.13% In Week of Dec 27

MNI:US OCT FHFA HPI SA +0.4% V +0.7% SEP; +4.5% Y/Y

MNI: US REDBOOK: DEC STORE SALES +5.5% V YR AGO MO

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

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: Oil Summary at European Close: Crude Rangebound

OIL
BulletEnergy BulletsCommodities

Crude is largely rangebound amid thin volumes today. The market is weighing the potential for the Israel-Hezbollah ceasefire to have already broken against general demand weakness, emphasised by talk of OPEC further delaying cut unwinding.

  • Brent JAN 25 up 0% at 72.84$/bbl
  • WTI JAN 25 down 0.1% at 68.66$/bbl
  • The IDF has confirmed that it struck a Hezbollah-affiliated compound in Southern Lebanon. It appears the strike may violate the terms of the Israel-Hezbollah ceasefire agreed this week.
  • OPEC+ is to delay the online ministers meeting until Dec. 5, according to Bloomberg citing delegates.
  • The North Sea combined BFOET loadings in January are scheduled to fall to 588kbpd compared to 632kbpd in December, according to loading programs compiled by Bloomberg.
  • China’s independent refiners have been buying up Middle East and African barrels as Iranian barrels become more expensive according to Kpler tracking.
  • Asia's November crude oil imports edged up to 26.42mbpd in November from 26.11mbpd in October and 26.24mbpd in September, according LSEG data.
  • Iran’s crude oil exports are on track for a second monthly decline in November, expected to slip by 54 kbd to 1.43 Mbd according to Kpler.
  • Nigeria has reduced the official selling price for Qua Iboe crude in December to Dated Brent plus 89 cents/b, the lowest level since July, according to price lists compiled by Bloomberg.
  • Middle East crude benchmark spot premiums for Oman turned negative today for the first time since Dec. 2023, according to Reuters.
231 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 largely rangebound amid thin volumes today. The market is weighing the potential for the Israel-Hezbollah ceasefire to have already broken against general demand weakness, emphasised by talk of OPEC further delaying cut unwinding.

  • Brent JAN 25 up 0% at 72.84$/bbl
  • WTI JAN 25 down 0.1% at 68.66$/bbl
  • The IDF has confirmed that it struck a Hezbollah-affiliated compound in Southern Lebanon. It appears the strike may violate the terms of the Israel-Hezbollah ceasefire agreed this week.
  • OPEC+ is to delay the online ministers meeting until Dec. 5, according to Bloomberg citing delegates.
  • The North Sea combined BFOET loadings in January are scheduled to fall to 588kbpd compared to 632kbpd in December, according to loading programs compiled by Bloomberg.
  • China’s independent refiners have been buying up Middle East and African barrels as Iranian barrels become more expensive according to Kpler tracking.
  • Asia's November crude oil imports edged up to 26.42mbpd in November from 26.11mbpd in October and 26.24mbpd in September, according LSEG data.
  • Iran’s crude oil exports are on track for a second monthly decline in November, expected to slip by 54 kbd to 1.43 Mbd according to Kpler.
  • Nigeria has reduced the official selling price for Qua Iboe crude in December to Dated Brent plus 89 cents/b, the lowest level since July, according to price lists compiled by Bloomberg.
  • Middle East crude benchmark spot premiums for Oman turned negative today for the first time since Dec. 2023, according to Reuters.