Technical & Fundamental Oil Reports Specialists

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Messengers of gloom

Published Monday, October 13th, 2014

Nothing went right for the stock or oil market bulls last week, although in the US the former had a day of relief on Thursday when bizarrely the Dow and S&P had their biggest one day rally of the year on the basis of one month old Federal Reserve minutes.

It was a week of unremittingly bad news. The Ebola epidemic is on the rampage and may soon be seriously interfering with the flow of global trade; Nato is split over how to deal with the Islamic State onslaught on Korbani; the eurozone is at loggerheads on how to deal with its growth crisis; the Japanese economic recovery has stalled; Germany delivered dreadful industrial output and export numbers and the UK recovery shows signs of stalling because of the eurozone slump.

All of this at a time when the US is in the final stage of QE withdrawal and the ECB is paralysed by Germany’s obsession with belt tightening and balanced budgets. And then there is Russia whose economy risks complete meltdown if oil prices do not recover. Russian capital controls are surely only a matter of weeks away. Not even China can be relied on to pull its weight in the growth stakes.

to read the rest of the report, please click here 

Posted by David Hufton