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PVM Midday Report 13 October 2014

Published Monday, October 13th, 2014


  1. Russia’s crude oil supply to China is up 45% so far this year – Russian Energy Ministry
  2. China’s September commodity imports are up on low prices
  3. Gold prices are up on the day as the dollar weakens further
  4. Anti-protest groups tore down protest barriers in Hong Kong


European stock markets started the week on the back foot as share prices were being adjusted to the sell-off in the US stock market on Friday evening. Of course, the downgrading of Finland and putting France on negative watch by Standard and Poor did not help to lift the gloom. What did, however, was a better-than-expected Chinese trade data that showed the country’s exports rose 15.4% in September year-on-year. As a result the Shanghai Composite Index recovered from the day’s low, the Spanish stock market is 0.66% on the day at the time of writing and the FTSE-100 index is trading 0.13% above Friday’s settlement level.

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Posted by Tamas Varga

Tamas Varga has been in the oil industry since 1992 and with PVM for 18 years. During his time in the industry he has gathered a range of experience in the oil markets. At PVM Tamas is in charge of data collection and analysis.