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PVM Midday Report 24 April 2014

Published Thursday, April 24th, 2014


  1. Rising German business confidence in April beats expectations
  2. Draghi reveals that worsening inflation could trigger ECB asset-buying
  3. Libya’s Zueitina port to resolve technical issues before exports can resume
  4. Planned maintenance cuts output from North Sea Buzzard oilfield by 25%


Economy: Well-received tech earnings on Wall St and prospects of a pickup in M&A activity is supporting European equity indices – the Eurofirst 300 is climbing 0.7%. With recent fears over potentially overvalued tech stocks easing, risk appetite is returning to the fore which in turn is hurting demand for highly-rated government bonds. Benchmark 10-year US Treasury and German Bund yields are adding 1 and 3 basis points respectively.  Russian assets remain immune from the broadly positive mood as Ukrainian tensions linger –Moscow’s Micex is slipping 1% as it heads for its fourth-daily consecutive decline

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.