Technical & Fundamental Oil Reports Specialists

Follow us

PVM Midday Report 14 April 2014

Published Monday, April 14th, 2014

  1. Eurozone industrial production expands 0.2% in February from January
  2. Libya’s Zawiya port and refinery have reopened and are operating normally
  3. Speculators raise net length in ICE Brent by 5,360 contracts in week to April 8
  4. Iran claims crude exports of 1mbpd in February and March, disputes IEA estimates


Economy: European equities are starting the week in the red as investors shun risk assets following an escalation in tensions surrounding the Ukraine crisis– the Eurofirst 300 is down 0.3%. Russian assets have been hit particularly hard with the rouble shedding 1% versus the dollar whilst Moscow’s Micex slips more than 1.5%. The heightened levels of risk aversion is supporting perceived havens with gold at a three-week peak whilst the yen gains 0.1% against the greenback. Moreover, highly-rated sovereign debt is benefiting from the geopolitical uncertainty as benchmark yields on US Treasuries ease 1 basis point and those on German Bunds hit a 10-month low. 

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.