Technical & Fundamental Oil Reports Specialists

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Drowning in data

Published Monday, August 4th, 2014

Another month bites the dust. Another month of ups and downs, warmongering, economic data to feed the appetite of both bears and bulls and a chorus of warnings of bubbles and imminent deflation. Brent began the month at $112.36/bbl and ended it at $106.02/bbl for a loss of 5.6%. WTI began at $105.37 and closed the month at $98.17, losing 6.8%. Both oil and stock markets ended July on a down note and began August in the same vain.

The Dow, S&P and FTSE 100 lost value over July although they did not move into the red until the last day. It was the first monthly drop for the S&P since January and since February for the Dow. Both the Dow and FTSE 100 are now marginally down on the year, therefore those who are still concerned about overvalued markets must have felt they were overvalued coming into the year or that economic conditions have deteriorated since.

to read the rest of the report, please click here 

Posted by David Hufton