Technical & Fundamental Oil Reports Specialists

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Huffing and puffing ratcheted up to breast beating

Published Tuesday, March 11th, 2014

Angela Merkel we are told has warned President Putin that a referendum in the Crimea on the region joining the Russian Federation would be illegal and violates Ukraine’s constitution. The US says that it will not recognize an annexation by Russia. What to do if the annexation goes ahead?

Although events in the Ukraine were not the headline maker yesterday there were no signs of any sort of diplomatic breakthrough. If anything the confrontation worsened with Russia tightening its grip on the Crimea. If the referendum goes ahead next Sunday a sell-off later in the week has to be budgeted for.

Yesterday the markets were more concerned about China again. After a bond default on Friday the weekend brought poor trade figures with exports down 18%. The bulls blame the Lunar New Year holiday but if that is the case how come the numbers were well below expectations?

To read the rest of the report, please click here 

Posted by David Hufton