MNI: PBOC Net Injects CNY25.7 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1897 Thurs; -2.25% Y/Y

MNI: PBOC Net Drains CNY195.3 Bln via OMO Wednesday

MNI CBRT WATCH: 1W-Repo Rate Lowered 250Bps to 47.5%

MNI BRIEF: CBRT Lowers 1W Repo Rate From 50% To 47.5%

MNI: PBOC Sets Yuan Parity Lower At 7.1868 Weds; -2.18% Y/Y

MNI: US JOBLESS CLAIMS -1K TO 219K IN DEC 21 WK

MNI: US REDBOOK: DEC STORE SALES +5.0% V YR AGO MO

MNI: US DEC PHILADELPHIA FED NONMFG INDEX -6

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 Climbs

OIL
BulletEnergy BulletsCommodities

Oil has climbed further today in a  thin pre-holiday trading session. Front month remains around the middle of its December range supported by more positive factors out of the U.S.

  • Brent FEB 25 up 1.3% at 73.58$/bbl
  • WTI FEB 25 up 1.4% at 70.21$/bbl
  • New orders for key U.S.-manufactured capital goods surged in November amid strong demand for machinery, while new home sales also rebounded, in a sign that the U.S. economy is on a solid footing towards the year-end.
  • The Biden Administration is looking to tighten sanctions on Russia as  a parting blow to Putin the Washington Post reports.
  • There is a lot of talk coming out of the U.S. at present about tariffs and sanctions, but the market needs to wait and see action Energy Aspects Director Amrita Sen said on Bloomberg TV.
  • Chinese teapots have been seen importing more crude from West Africa according to OilChem. The types of crude primarily include Djeno, Mostarda, and Pazflor.
  • US crude oil inventories are expected to have fallen by 3.8m bbl in the week to Dec. 20, according to a note by Macquarie, cited by Bloomberg.
  • Kazakhstan’s pipeline operator Kaztransoil said Dec. 24 that December oil supplies to Germany will be increased from the planned 130k mt to 135k mt, Reuters reported.
  • U.S. producers are not signalling intent to boost oil production in 2025 despite Trump paving the way for easier legislation according to Leo Mariani, Senior Research Analyst at Roth Capital Partners.
  • Output from Argentina’s Vaca Muerta shale play is expected to be 1m b/d in 2030, according to estimates from professional services firm PWC, cited by Bloomberg.
259 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.

Oil has climbed further today in a  thin pre-holiday trading session. Front month remains around the middle of its December range supported by more positive factors out of the U.S.

  • Brent FEB 25 up 1.3% at 73.58$/bbl
  • WTI FEB 25 up 1.4% at 70.21$/bbl
  • New orders for key U.S.-manufactured capital goods surged in November amid strong demand for machinery, while new home sales also rebounded, in a sign that the U.S. economy is on a solid footing towards the year-end.
  • The Biden Administration is looking to tighten sanctions on Russia as  a parting blow to Putin the Washington Post reports.
  • There is a lot of talk coming out of the U.S. at present about tariffs and sanctions, but the market needs to wait and see action Energy Aspects Director Amrita Sen said on Bloomberg TV.
  • Chinese teapots have been seen importing more crude from West Africa according to OilChem. The types of crude primarily include Djeno, Mostarda, and Pazflor.
  • US crude oil inventories are expected to have fallen by 3.8m bbl in the week to Dec. 20, according to a note by Macquarie, cited by Bloomberg.
  • Kazakhstan’s pipeline operator Kaztransoil said Dec. 24 that December oil supplies to Germany will be increased from the planned 130k mt to 135k mt, Reuters reported.
  • U.S. producers are not signalling intent to boost oil production in 2025 despite Trump paving the way for easier legislation according to Leo Mariani, Senior Research Analyst at Roth Capital Partners.
  • Output from Argentina’s Vaca Muerta shale play is expected to be 1m b/d in 2030, according to estimates from professional services firm PWC, cited by Bloomberg.