MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Lower At 7.1339 Thurs; -1.06% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1339 THURS VS 7.1342

MNI BRIEF: Bank of Korea Keeps Policy Rate At 3.50%

MNI: BANK OF KOREA KEEPS POLICY RATE AT 3.50%: PRESS

Japan May Machine Orders -3.2% M/M

MNI JAPAN MAY CORE MACHINE ORDERS -3.2% M/M; APRIL -2.9%

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

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

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

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

Oil Pulls Back As EU Seen Softening Russian Oil Price Cap Plan

OIL
  • After the WSJ reported that the G7 were planning a Russian oil price cap potentially in the $60-70/bbl range in measures that could be announced tomorrow, Bloomberg reports that the EU is set to water down certain aspects of the plan.
  • A document seen by Bloomberg shows the bloc proposing adding a 45-day transition to the introduction to the cap whilst also softening key shipping provisions whilst also proposing a 90-day transition in the event of any future changes to the level of the price cap.
  • The initial grace period would apply to oil loaded before Dec 5 (the date oil sanctions are due to kick in) and unloaded by Jan 19, aligning the EU to a clause previously agreed by the US and UK.
  • Brent pulls back from $89.5 to $88.7 and WTI from $82.1 to $81.2 on the headlines.
Energy BulletsCommodities
Energy BulletsCommodities

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.