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

US NFIB NOV SMALL BUSINESS INDEX 101.7

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% 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 Summary at European Close: Crude Rises

OIL

Crude markets are holding onto small earlier gains after a larger than expected draw in US crude inventories according to the update EIA weekly petroleum data.

  • Brent SEP 24 up 0.9% at 81.7$/bbl
  • WTI SEP 24 up 1% at 77.76$/bbl
  • EIA Weekly US Petroleum Summary - w/w change week ending Jul 19: Crude stocks -3,741 vs Exp -1,545: Crude production 0, SPR stocks +690, Cushing stocks -1,708
  • Prompt spreads suggest a tight near-term market with the last three weeks showing a sharp drawdown in crude inventory in the US to add to geopolitical and weather-related supply risks.
  • Russia has submitted a compensation plan to OPEC to deal with its previous overproduction beyond its quotas, The country’s Energy Ministry said via Telegram.
  • ARA crude storage fell 6.4% or 3.4mbbls in the week ended July 19 to 49.6mbbls according to Genscape.
  • India’s crude oil imports in June fell by 5.6% year on year to 18.5m tons and compared to 22.0m tons in May, according to provisional data from the oil ministry’s Petroleum Planning & Analysis Cell.
Energy BulletsHomepagemarkets-real-timeBulletCommodities
Energy BulletsHomepagemarkets-real-timeBulletCommodities

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.