Technical & Fundamental Oil Reports Specialists

Follow us

PVM Midday Report 18 March 2014

Published Tuesday, March 18th, 2014

Headlines

  1. Ukraine crisis dampens German investor sentiment in March
  2. Libyan oil output at 230,000bpd, El Sharara oil field remains closed
  3. Eurozone trade surplus shrinks by more-than-expected in January
  4. German Constitutional Court confirms legality of bailout scheme

Fundamentals

Economy: European shares are reversing earlier losses after Vladimir Putin struck a dovish tone in his parliamentary speech and set in motion Crimea’s absorption into Russia – the Eurofirst 300 is surging 0.5%. The improvement in sentiment is pushing 10-year German Bund yields lower whilst gold eases $9 to $1,357. However, the prospect of harsher sanctions from the international communities is still a cause for concern. The potential European fallout from the Crimean crisis was made clear today as Germany’s ZEW economic sentiment index for March came in well below expectations at 46.6 from 55.7 in February.

To read the rest of the report, please click here 

Posted by Stephen Brennock

Stephen Brennock joined PVM in 2013 after having worked as a project manager for a business development firm. He graduated with a degree in Business Management in 2007.