Technical & Fundamental Oil Reports Specialists

Follow us

PVM Midday Report 15 September 2015

Published Monday, September 15th, 2014


  1. Chinese industrial activity rises 6.9% y/y in August, slowest increase since Dec 2008
  2. OECD trims developed economies growth forecasts
  3. US to export two cargoes of condensate to Europe and South Korea
  4. Eurozone seasonally adjusted trade surplus slips more than 10% in July from June
  5. Speculators raise net length in ICE Brent by 6,125 lots in week to September 9


Economy: European equities are little changed as investors digest the latest signs of a slowdown in the world’s second largest economy and express caution ahead of this week’s key political and monetary events – the Eurofirst 300 is adding 0.1%. Overnight figures revealed that Chinese factory output and retail sales in August came in well below forecasts with the former growing at its slowest pace since December 2008. Along with fears that China is headed for a hard landing, risk appetite is also being undermined by ongoing uncertainty over the vote on Scottish independence as well as the looming Fed policy meeting where it is expected to strike a hawkish tone. This in turn is keeping pressure on the pound sterling which is 0.1% weaker versus the dollar while benchmark US Treasuries are steady at close to a two-month high.

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.