OIL: Oil Summary At European Close: Crude Falls
Feb-13 16:24
Crude has fallen today day amidst signs of easing Israel/Hamas tensions and ‘imminent’ Ukraine peace talks, though recovered some losses as the dollar weakened following delays to Trump’s reciprocal tariffs.
- Brent APR 25 down 0.6% at 74.76$/bbl
- WTI MAR 25 down 0.4% at 71.06$/bbl
- President Trump’s reciprocal tariffs will not go into effect today and are time-delayed by ~6 weeks, CNBC reports.
- Crude fell this morning after headlines suggested that tensions around the Gaza ceasefire deal had eased, with Hamas reaffirming its commitment to the hostage release deal.
- President Trump is likely to meet Russian President Putin in person in Saudi Arabia some time. Also it’s not “realistic” for Ukraine to join NATO. Trump has said negotiations will begin imminently but there is a long way to go before there is a truce.
- Floating Russian and Iranian barrels have hit multi-month highs on harsher U.S. sanctions as buyers fear pulling in cargoes.
- 94 of the 154 active tankers sanctioned by the US on Jan. 10 are now idle, Bloomberg reports.
- Global oil demand growth is projected to average 1.1 mb/d in 2025, up from 870 kb/d in 2024, according to the IEA Monthly Oil Report.
- US crude inventories rose 4.07mbbl, more than expected but less than suggested in API data and remains below the five year seasonal average.
- India only wants to buy Russian oil only if it is supplied by companies and ships that have not been sanctioned by the U.S. the country's oil secretary said to Reuters at India Energy Week.
- The expansion project at the Tengiz oil field may reach full capacity by mid-2025, the general director of Tengizchevroil told Interfax, cited by Bloomberg.
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PIPELINE: Corporate Issuance Update: $3B KFW +5Y Priced
Jan-14 16:18
- Date $MM Issuer (Priced *, Launch #)
- 01/14 $3B *KFW +5Y +40
- 01/14 $2.5B #BNG Bank 5Y SOFR+47
- 01/14 $2.5B *CADES 5Y SOFR+68, upsized from $2B
- 01/14 $2B IFC 3Y SOFR+29
- 01/14 $2B CAF 5Y SOFR+82
- 01/14 $500M #Hyundai 3Y +80
- 01/14 $Benchmark Blackstone Private Cr Fund 7Y +190a
- 01/14 $Benchmark LifePoint Health 7NC3
- 01/14 $Benchmark Adobe 3Y +50a, 5Y +60a, 10Y +80a
- 01/14 $Benchmark British Colombia 3Y SOFR+45
- 01/14 $Benchmark BFCM 5Y +120a, 5Y SOFR
SECURITY: Gaza Ceasefire Deal Ready To Be Concluded And Implemented, Blinken
Jan-14 16:08
US Secretary of State Antony Blinken, speaking at an event hosted by the Atlantic Council, has confirmed that a Gaza ceasefire-for-hostage deal is "ready to be concluded and implemented" if Hamas accepts the conditions of the framework.
- Blinken says: "We believe the Palestinian Authority should invite international partners to help establish and run an interim administration in Gaza after a ceasefire deal," adding that an "interim security mission would be made up of forces from partner nations and vetted Palestinian personnel."
- Blinken notes that the Biden administration, "will hand off plan for post-war Gaza to the Trump administration to carry forward."
- Blinken's remarks are consistent with recent comments from US officials and Qatari mediators suggesting a ceasefire deal is closer than it has been in months, however, a final deal appears to hinge on Hamas approval, which in turn depends on how credible Hamas leadership deems a proposed Israeli military withdrawal from Gaza. As noted in earlier bullets (ISRAEL: WSJ-Israel, Hamas Finalising Gaza Deal, Could Come This Afternoon) there is some domestic uncertainty on the Israeli side, "in the form of the requirement for any deal to be approved by Israel's security cabinet and the full gov't."
- The Jerusalem Post reported a short time ago: "No final answer was given from Hamas regarding a hostage deal, an Israeli official [said]."
- A Qatari statement earlier today read: "We have overcome the major differences. This is the closest point we have been to a deal over the past months,"
MNI EXCLUSIVE: MNI: Italy Aims At NGEU Wriggle Room Over 2026 Deadline
Jan-14 16:05
Officials sketch out Italian plans to make sure the country gets as much NGEU funding as possible.-On MNI Policy MainWire now, for more details please contact sales@marketnews.com
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