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MNI China Press Digest July 16: LPR, Q2 Data, Property

MNI: PBOC Sets Yuan Parity Higher At 7.1328 Tue; -1.79% Y/Y

CHINA PBOC CONDUCTS CNY676 BILLION VIA 7-DAY REVERSE REPOS TUE

CHINA SETS YUAN CENTRAL PARITY AT 7.1328 TUE VS 7.1313

MNI BRIEF: Fed's Powell Says Neutral Rate Has Likely Risen

Asia Sovs Little Changed, BI Rate Decision Wednesday

Multiple Factors Likely To Keep Chip Exports Supported In Coming Months

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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Oil Prices Soften Ahead of EIA Report

OIL

Oil prices have eased ahead of today’s US oil inventory report that is anticipated to show a stock build as product demand weakens. US crude stocks rose by 1.9mn bbls for the week ended July 15 based on the latest API figures. Official weekly crude and fuel inventory data from the U.S. Energy Information Administration (EIA) is expected on Wednesday at 15.30 GM.

  • Brent SEP 22 down -1% at 106.26$/bbl
  • WTI AUG 22 down -1.2% at 103$/bbl
  • Gasoil AUG 22 up 0.7% at 1076$/mt
  • WTI-Brent up 0.02$/bbl at -6.75$/bbl
  • Crude prices surged back and forth in the previous sessions weighing up supply fears against anticipation that central banks will raise interest rates to combat inflation.
  • Brent SEP 22-OCT 22 down -0.09$/bbl at 4.38$/bbl
  • Brent DEC 22-DEC 23 down -0.2$/bbl at 10.27$/bbl
  • The US 3:2:1 and gasoline crack spreads - measures of refining profit margins - both fell to their lowest since April on Tuesday, indicating weaker fuel demand as higher prices at the pump impact the summer driving season.
  • US gasoline crack down -0.1$/bbl at 34.66$/bbl
  • US ULSD crack down -0.4$/bbl at 48.99$/bbl
Energy BulletsCommodities
Energy BulletsCommodities

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