OIL: China’s Refinery Crude Throughput Falls on Week
May-15 12:31
China’s crude throughput across its refineries fell by 54.3k mt to 13.566m mt, according to an OilChem survey.
- At independent refineries, throughput was down 39.9k mt on the week to 4.884m mt. Among teapots in Shandong, throughput fell 10k mt to 1.926m mt.
- At China’s state-owned refineries, throughput was down 14.4k mt to 8.682m mt
- During the same period in 2024, China’s crude throughput was 13.884m mt, with 9.336m mt at state-owned refineries and 4.548m mt at teapots.
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CANADA MARCH CPI +2.3% YOY VS PRIOR +2.6% ON Travel AND GAS
Apr-15 12:30
- CANADA MARCH CPI +2.3% YOY VS PRIOR +2.6% ON TRAVEL AND GAS
- CORE TRIM CPI +2.8% YOY FROM +2.9%, MEDIAN STEADY +2.9%
CANADA DATA: Canada March CPI Slows to +2.3% YOY On Lower Travel and Gas
Apr-15 12:30
- Canada March CPI slows to +2.3% YOY from +2.6% in Feb., below market expectations. Headline deceleration was largely due to slowdown in air transportation (-12%) and lower gasoline (-1.6%). Offsetting the drop, mortgage interest cost +7.9% and rent +5.1%.
- BOC preferred core measures remained elevated. CPI median was unchanged at +2.9% in March. CPI trim slowed to +2.8% from +2.9%.
- MOM CPI also decelerated to +0.3% from +1.1% in February, again lower than consensus. Decline also driven by travel tours and gasoline. Moderating the slowdown, food from restaurants +4.7%.
- Excluding a federal sales tax break that ended in mid-February inflation would have been -0.1% MOM.
- Report is last major data before BoC’s rate decision Wednesday. Markets are divided on whether the central bank will hold or deliver a 25bp cut after seven prior reductions amid trade war pressures on inflation and growth.
MNI: CANADA MAR CPI INFLATION +0.3% M/M, +2.3% YY
Apr-15 12:30
- MNI: CANADA MAR CPI INFLATION +0.3% M/M, +2.3% YY
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