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PVM Midday Report 19 January 2015

Published Monday, January 19th, 2015


  1. Iran’s oil minister calls on OPEC for increased cooperation in balancing the market
  2. Speculators raise net length in ICE Brent by 8,023 lots in week to January 13
  3. Output at Yemen’s largest oilfield halted following reports of attempted coup
  4. IMF warns Greece of consequences should it seek to renegotiate bailout terms


Economy: European stocks are tentatively advancing towards a seven-year high as investors ready themselves for this week’s ECB policy meeting in which it is expected to announce a programme of QE – the Eurofirst 300 is gaining 0.2%. Increasing optimism of ECB action has underpinned market sentiment in recent weeks following further evidence of waning growth prospects and falling prices across the eurozone. However, pockets of caution are persisting as traders fret that the widely-anticipated ECB sovereign-debt purchases will fall short of expectations in both size and scope.

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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.