From Investing.com: 2025-01-14 00:15:00

Energy prices surged after the US imposed new sanctions on Russia’s energy sector, potentially cutting 700k b/d of supply. China’s December crude oil imports fell 4.6% MoM and 1.1% YoY. European natural gas prices rose over 7.2% due to US sanctions on Russian LNG projects and alleged attacks on gas infrastructure. Today, the EIA releases its Short-Term Energy Outlook and the API its US inventory numbers.

Metal prices rose on strong Chinese trade data and Beijing’s plan to boost consumption. China’s metal imports in December increased, with unwrought copper imports rising 18% YoY and copper concentrate imports up 1.7% YoY. Ferrous metal imports hit their highest level since July 2020. Chinese unwrought aluminium and aluminium product exports rose 3.1% YoY, while steel product exports jumped 22.7% for 2024.

Chinese soybean imports fell 19% YoY in December due to slower customs clearance, but rose 11.1% MoM. Overall 2024 soybean imports increased 6.5% YoY. US corn and soybean export inspections rose, while wheat export inspections declined compared to the previous week. This information is for informational purposes only and does not constitute investment advice.



Read more at Investing.com: Oil, Natural Gas Could Continue to Soar as US Sanctions Rattle Energy Markets