Technical & Fundamental Oil Reports Specialists

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IEA precipitates largest oil price fall for 2 years.

Published Wednesday, October 15th, 2014

It is still not safe to go outside. The deluge of bad news continues and although stock markets did not lose any further ground there is a smell of fear in the air, which could turn into panic at any moment. Ebola is winning the race according to the WHO and there will soon be 10,000 new cases a week if more money and help is not forthcoming. Imagine the economic impact of an Ebola panic in London, Paris or New York over Christmas. Over in the Middle East, Islamic State is winning the battle for Kobane and threatens Baghdad.

Germany has officially cut its growth rate to 1.2% this year and 1.3% next. Only six months ago it was forecasting growth of 1.8% and 2%. German investor morale is at its lowest level for nearly 2 years according to the ZEW monthly survey and US small business confidence is below where it was before the financial crisis. Inflation in Britain has fallen unexpectedly to 1.2% and the latest BOA/Merril Lynch poll of global fund managers shows a fall from 52 to 32% of respondents who think the world economy will strengthen over the next year.

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Posted by David Hufton