U.S. SECURITIES INFLOW $33.8 BLN
U.S. DT - The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for November 2017. The next release, which will report on data for December 2017, is scheduled for February 15, 2018.
The sum total in November of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC inflow of $33.8 billion. Of this, net foreign private inflows were $49.7 billion, and net foreign official outflows were $15.9 billion.
Foreign residents increased their holdings of long-term U.S. securities in November; net purchases were $34.8 billion. Net purchases by private foreign investors were $33.8 billion, while net purchases by foreign official institutions were $1.0 billion.
U.S. residents decreased their holdings of long-term foreign securities, with net sales of $22.7 billion.
Taking into account transactions in both foreign and U.S. securities, net foreign purchases of long-term securities were $57.5 billion. After including adjustments, such as estimates of unrecorded principal payments to foreigners on U.S. asset-backed securities, overall net foreign purchases of long-term securities are estimated to have been $41.4 billion in November.
Foreign residents increased their holdings of U.S. Treasury bills by $1.4 billion. Foreign resident holdings of all dollar-denominated short-term U.S. securities and other custody liabilities increased by $4.6 billion.
Banks' own net dollar-denominated liabilities to foreign residents decreased by $12.2 billion.
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REUTERS - Brent LCOc1 futures fell 43 cents, or 0.5 percent, to $79.14 a barrel by 0218 GMT, after climbing 35 cents on Tuesday. Last week, the global benchmark hit $80.50 a barrel, the highest since November 2014. U.S. West Texas Intermediate (WTI) crude CLc1 futures eased 25 cents, or 0.4 percent, to $71.95 a barrel, having climbed on Tuesday to $72.83 a barrel, the highest since November 2014.
FT - Most oil majors can now cover dividends and capital expenditure at prices around $50 per barrel, meaning that, at $80, they make a healthy surplus.
EIA - The United States remained the world's top producer of petroleum and natural gas hydrocarbons in 2017, reaching a record high. The United States has been the world's top producer of natural gas since 2009, when U.S. natural gas production surpassed that of Russia, and the world's top producer of petroleum hydrocarbons since 2013, when U.S. production exceeded Saudi Arabia’s. Since 2008, U.S. petroleum and natural gas production has increased by nearly 60%.
PLATTS - China became the largest contributor to global LNG consumption growth in 2017. It surpassed South Korea as the world's second largest LNG importer and its share of global LNG demand is expected to converge with that of Japan by 2030.