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PVM Midday Report 11 September 2014

Published Thursday, September 11th, 2014

Headlines

  1. EU agrees on fresh sanctions against Russia
  2. IEA trims 2014 and 2015 global oil demand growth forecast to 0.9 and 1.12 mbpd
  3. Kurdish oil exports from Ceyhan reach 11.2 million bbls since May this year
  4. Buzzard production restored, current output at half of maximum capacity
  5. Russia conducts military drills close to maritime border with Japan

Fundamentals

Economy: European bourses are little changed as investors wait on US jobless claims figures and digest the announcement of further EU sanctions against Russia – the Eurofirst 300 flat. The tentative mood which has characterised the last few sessions comes as attention turns to the upcoming Fed meeting and any subsequent clues on the timing of an interest rate rise. Adding to the cautionary tone are reports of the latest in a series of Russian military drills which have taken place close to its maritime border with Japan.

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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.