Macroeconomics

1. [US Consumer Confidence Index] The US consumer confidence index in December further declined to 89.1 from a revised 92.9 in November, marking the fifth consecutive month of decline and the lowest level since April of this year.

2. [European Central Bank] European Central Bank Governing Council member Yannis Stournaras stated that the ECB is currently in a "good position," but must be prepared to adjust monetary policy direction at any time if necessary. The Greek official said, "We must maintain policy flexibility and be ready to adjust policy interest rates at any time. If the actual situation is better or worse than expected, we will take corresponding action."

3. [European Automotive] According to the latest data released by the European Automobile Manufacturers' Association (ACEA), EU passenger car sales increased by 2.1% to 887,491 units in November 2025.  Cumulative sales for the first 11 months increased by 1.4% year-on-year to 9.86 million units.

Energy

1. [Crude Oil] On December 23, international crude oil futures continued to rise. The settlement price of the February contract for US WTI crude oil futures was $58.38 per barrel, an increase of $0.37 or 0.6%. The settlement price of the February contract for Brent crude oil futures was $62.38 per barrel, an increase of $0.31 or 0.5%.

2. [Crude Oil] On December 23, data released by the American Petroleum Institute (API) showed that US crude oil, gasoline, and distillate fuel inventories increased last week. For the week ending December 19, US crude oil inventories increased by 2.39 million barrels. Gasoline inventories increased by 1.09 million barrels, and distillate fuel inventories increased by 685,000 barrels compared to the previous week.

3. [Crude Oil] On December 23, the Norwegian Offshore Directorate (NOD) stated that the country's total oil and gas production in November was 0.9% higher than official estimates. In November, the country's total production of oil, condensate, liquefied natural gas, and natural gas was 694,000 standard cubic meters per day, equivalent to 4.37 million barrels of oil equivalent per day, a year-on-year increase of 0.9%.

4. [Crude Oil] A recent report by the African Refiners and Distributors Association indicates that daily crude oil consumption on the African continent is expected to surge from 1.8 million barrels in 2024 to 4.5 million barrels in 2050, making the region one of the most promising frontiers for energy investment globally. This demand is primarily driven by population growth; by 2050, one in four people globally will live in Africa, significantly increasing the consumption of products such as transportation fuels and liquefied petroleum gas. However, Africa currently relies heavily on imported refined oil products, exposing its economy to international price fluctuations and supply chain risks.

5. [Coking Coal] On December 23rd, the online auction price for coking coal in the Changzhi Qinyuan market fell. Low-sulfur lean coking coal (A8, S0.5, G65) started at 1,450 RMB/ton, with an average transaction price of 1,543 RMB/ton, and a total transaction volume of 35,000 tons, a decrease of 50 RMB/ton compared to the previous auction on the 16th. All prices are ex-factory, cash inclusive of tax.

6. [Petroleum Coke] On December 23rd, Huaxiang Petrochemical quoted petroleum coke at 2,800 RMB/ton, a decrease of 30 RMB/ton compared to the previous trading day.  ​​Sulfur content is 2.7, with a delayed coking unit capacity of 400,000 tons/year and a daily output of 450 tons.

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