Technical & Fundamental Oil Reports Specialists

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The calm before the storm

Published Monday, March 3rd, 2014

Another day, another week and another month have all gone by and you have to wonder whether investors feel any more confident about where the markets will be at the end of 2014 now than they did at the beginning of the year. We have had a very confusing two months and last week and the weekends events can only have added to the confusion.

Stock markets had a torrid month in January on erratic US economic data and emerging market concerns. They rebounded in February to leave the S&P, FTSE and Eurotop 100 up between 1 and 2% year to date. New all-time highs surely tell a tale of confidence but is it considered or merely a case of follow my leader and therefore very fragile to a change of mood?

As for the oil contracts, all except Heating Oil delivered gains in February but on a year to date comparison the only gold medal performer has been WTI with a gain of 4.24% compared to -1.56% for Brent and less than 1% gains on Heat and RBOB. The front month WTI/Brent arb is +5.5% year to date and gained 2.72% in February.

To read the rest of the report, please click here 

Posted by David Hufton