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PVM Midday Report 16 May 2014

Published Friday, May 16th, 2014


  1. US expresses concern at lack of progress in Iran nuclear talks
  2. Eurozone March trade surplus narrows to €17.1 billion from € 21.1 billion a year earlier
  3. Angolan crude exports to slip to 1.49 mbpd in July from 1.66 mbpd planned in June
  4. Russia and Iran fail to agree potential oil-for-goods deal


Economy: European equities are on course to end the week lower as riskier assets fall out of favour following recent poor economic data out of the Eurozone – the Eurofirst 300 is slipping 0.3%. Underwhelming macro data has challenged market expectations of improving global growth prospects and caused investors to question multi-year highs reached by several stock indices. The resulting bout of risk aversion is keeping pressure on peripheral euro bonds which suffered a sharp sell-off yesterday but have since stabilised.

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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.