MNI China Daily Summary: Thursday, July 25

MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

MNI: US Q2 GDP +2.8%

MNI: US JOBLESS CLAIMS -10K TO 235K IN JUL 20 WK

MNI:US JUN DURABLE NEW ORDERS -6.6%; EX-TRANSPORTATION +0.5%

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

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Saudi Aramco Likely to Announce OSP in Coming Days

OIL

Saudi Aramco is expected to announce the crude official selling prices for March in the coming days with market participants expecting the kingdom to raise or to keep Arab Light crude prices to Asia steady.

  • According to a Reuters survey, Aramco may raise the price for its flagship Arab Light crude to Asia in March by 30ct-70ct/bbl, as increasing geopolitical risk has supported global oil prices according to a Reuters survey.
  • Aramco may also increase the OSP for its medium sour crude by about 55ct/bbl for March.
  • A Bloomberg survey suggested the kingdom may maintain the Arab Light OSP to Asia unchanged in March. The survey showed a range of estimations between a price cut of 0.45$/bbl and rise of 0.75$/bbl.
  • The Arab Light OSP differential to Oman-Dubai was at +$1.50/bbl for February sales.
  • Saudi Aramco’s OSPs are typically published on the fifth of each month.
Energy BulletsCommodities
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