Technical & Fundamental Oil Reports Specialists

Follow us

PVM Midday Report 09 June 2014

Published Monday, June 9th, 2014

PVM Midday Report


  1. Chinese exports rise 7% y/y in May; beats forecast of 6.6%
  2. 1Q Japanese GDP growth revised up to 1.6% from a preliminary 1.5%
  3. Eurozone investor sentiment unexpectedly dips in June
  4. June Ekofisk loadings at 240,000bpd, down from the 280,000bpd originally planned
  5. ICE Brent crude speculators cut length by 16,420 lots in week ended June 3


Economy: European stock markets are advancing into virgin territory amid growing optimism regarding the global economic recovery – the Eurofirst 300 is up 0.2%. Along with last week’s strong US jobs report, growth prospects are being underpinned by an upward revision to 1Q Japanese GDP figures and data pointing to rising Chinese exports in May. Building on the broadly positive mood are increasing hopes of a resolution to the Ukrainian crisis which is helping Moscow’s Micex add 0.7% after having surged a total of 4.9% in the last five sessions. Benchmark US and German borrowing costs are ticking slightly higher although remain low by historic standards, whilst Eurozone periphery debt yields fall to fresh record lows.

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.