MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI BRIEF: Brazil CenBank Faces Greater Uncertainty - Campos

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

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

EZ/UK T-Bill Calendar: 3/6-Month ATB Auction on Tuesday

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

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

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Softer Ahead Of OPEC+

OIL

WTI & Brent crude futures trade the best part of $1.00 lower on the day at typing, a touch off their respective Asia-Pac lows, after both contracts threatened to make a clean break below Wednesday's trough.

  • Spill over from Wednesday's U.S. DoE inventory release, which revealed a larger than expected build in headline crude stocks, alongside a surprise build in distillate stocks and a larger than expected uptick in refinery run rates, was evident.
  • The formal announcement that Iran is set to resume talks with the U.S. re: the revival of the Iran nuclear deal at the end of the month provided another source of pressure.
  • Thursday will be headlined by the latest OPEC+ gathering, with the group set to lift production by another 400K bpd in December, even with questions surrounding the ability of some participants when it comes to meeting the upper limit of higher permitted production quotas.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Energy BulletsCommodities

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