NORTH AMERICA OIL SUMMARY: US OIL: October 22 - Americas Midday Oil Summary

The prime ministers of Denmark and Greenland have talked up the deal reached with the US over the weekend following the signing of an agreement regarding the Danish autonomous territory's future with US President Donald Trump in New York City. 

• Danish PM Mette Frederiksen: "Today, we are signing a deal that can last forever...We will make sure that US adversaries won't get control or significant influence in Greenland...We are making sure that more allies are present in the Arctic at the same time...The agreement respects the sovereignty and territoriality of the Kingdom of Denmark, and Greenland's right to self-determination. The agreement is good for the US, Greenland, and Denmark."
• Greenlandic PM Jens-Frederik Nielsen: "We recognise the long-term security threats that President Trump has rightly spoken about...It is vital to keep NATO strong also in the Arctic, where the alliance has a key role to play...This agreement should put to rest any doubt today and in the future about where Greenland's loyalty lies."
• The 10-page agreement (link) sees the US given freedom to establish an additional "Defence Area" (i.e. a new military base) at Nararsuaq and Mestersvig, with the opportunity to establish more of these defence areas in line with the agreement. The agreement has no end date.
• As part of the deal, Greenland agrees to remain a part of NATO and subject to the defence agreement even if it becomes an independent nation state separate from Denmark. 

Italy has announced it will be looking to sell E7.5bln of the new 6-month Mar 31, 2027 BOT at its auction this Friday, September 25.

*FRENCH STATE NEW FUEL AID COST ESTIMATED AT EU450M: AMIEL" bbg