Technical & Fundamental Oil Reports Specialists

Follow us

PVM Midday Report 07 October 2014

Published Tuesday, October 7th, 2014


  1. German industrial production plummets 4% in August from July
  2. UK industrial output remains unchanged in August
  3. Speculators cut net length in ICE Brent by 6,855 lots in week to Sep 30
  4. North Sea Brent loadings set to rise to 140,000bpd in November


Economy: European equities are firmly in retreat as investors fret over the health of the region’s powerhouse economy after the release of yet more bearish data – the Eurofirst 300 is plunging 0.9%. Adding to the sour tone from yesterday’s disappointing factory orders numbers are figures revealing that German industrial production shrank 4% in August in what was the biggest monthly decline in five years. Consequently, risk assets are falling out of favour as the slew of weak economic indicators raises concerns that Germany is teetering on the edge of recession following an unexpected 0.2% contraction in 2Q.

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.