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PVM Midday Report 19 June 2014

Published Thursday, June 19th, 2014

1.)   Oil is up on Iraqi tension

2.)   Demand for Turkish oil products is expected to rise from Iraq

3.)   Russian gas deliveries to Europe are stable

4.)   Stock markets rally after upbeat Fed

Economy: There has not been a lot happening on the financial front as stock markets are supported by yesterday’s assessment of the Fed on the US economy. Next year’s US economic growth forecast was left unchanged and interest rates are expected to remain low in the coming years. After the S&P 500 index settled at a record high last night the MSCI’s World Equity index followed suit this morning and now is at levels never seen before. In emerging markets Russian stocks are at a 5-month high whilst the South African market is also at a record high.

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Posted by Tamas Varga

Tamas Varga has been in the oil industry since 1992 and with PVM for 18 years. During his time in the industry he has gathered a range of experience in the oil markets. At PVM Tamas is in charge of data collection and analysis.