Technical & Fundamental Oil Reports Specialists

Follow us

A chink of light on US oil exports

Published Wednesday, June 25th, 2014

A big hurrah for Team USA as it enters the stadium carrying good news on house sales in May (+18.6%y/y) and consumer confidence at its highest level since January 2008. A big boo for Team Europe dragging the ball and chain of the Eurozone behind it and carrying news of a bigger than expected fall in German business sentiment and six month low PMIs. The Europeans are always raining on the parade but are not shy about giving out advice on what everyone else should be doing.

Ever heard of “spitzenkandidat”? If not google it. It is the new European Union game that the euro elite are playing while their electorates are distracted by the World Cup. It involves a man called Juncker and the prize is the crucial post of the President of the European Commission. If the prize falls into the wrong hands the ball and chain will increase in size.

While Brussels was locked in manoeuvring, conspiracy and backroom dealing as to which country will get which post on the Commission, the George Clooney of Central Banking, Mark Carney, was having a hard time in front of the Treasury Select Committee in London.

to read the rest of the report, please click here 

Posted by David Hufton