PVM Midday Report 05 September 2014

Published Friday, September 5th, 2014

Headlines

Ukrainian forces shell rebels close to the port of Mariupol
Buzzard delays causes one Forties cargo to be dropped from September loading
North Sea Brent loadings little changed in October at 97,000 bpd
Gauge of future eurozone inflation rises to 28-month high in July

Fundamentals

Economy: European bourses are mirroring overnight losses in Asia as attention turns to today’s US jobs data and the ongoing efforts to secure a permanent cease-fire in eastern Ukraine – the Eurofirst 300 is easing 0.5%. Yesterday’s equity rally triggered by the ECB has paused as a bout of profit taking and the tentative mood triggers a fall in risk appetite. Investors are paring bets ahead of the key US non-farm payroll report which is forecast to have shown a net addition of 230,000 jobs in August.

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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.

News

PVM Midday Report 13 June 2016

Headlines

OPEC hints at tighter oil balance in 2H 2016; output down 100,000 bpd in May
Chinese implied oil demand falls by 380,000 bpd in May y/y to 10.24 mbpd
Iran’s biggest oil…

$50 bbl proving to be a formidable obstacle

Front month Brent and WTI both broke through the $50 bbl barrier yesterday but were unable to hold on to the gains. The trigger for the gains was news of…

Watch RBOB’s 13 day around 145.42 for guidance. Being below the 5 and 8s on the rest is not good.

Introduction. Last night’s closes were respectable, except for the fact that RBOB, although having held its 13 day MA on the dip, was still below the 5 and 8 day…

Reports

PVM Midday Report 15 July 2016

Chinese refinery crude throughputs hit record high on daily basis of 10.97 mbpd in June
BoAML sees Brent and WTI rising to $55 and $54/bbl respectively by year-end
Chinese 2Q GDP annual…

PVM Midday Report 14 July 2016

Headlines

BoE keeps interest rates on hold at historic low of 0.5%, hints at stimulus in August
Singapore fuel oil stocks hit three-week high of 27.545 million bbls
BoJ officials quash hopes of…

PVM Midday Report 13 July 2016

Headlines

IEA expects return to growth in non-OPEC oil supply next year; demand to rise by 1.3 mbpd
OPEC crude oil output rises by 400,000 bpd in June to 8-year high of…

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