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PVM Midday Report 10 September 2015

Published Thursday, September 10th, 2015

  • API sees US crude oil stocks rise by 2.1 million bbls
  • Nigeria lifts ban on 113 oil tankers – Reuters
  • Iran cuts its OSP to Asia for next month, Bloomberg reports
  • China’s January-August FDI is up 9.2% year-on-year
  • Greek unemployment in June was 25.2%


Overnight news from the Far East pushed stock indces lower with the Nikkei 225 index losing 2.51% of its value and the Shanghai Composite Index closing 1.45% lower on the day. The fall was triggered by yet another monthly fall in Chinese producer prices whilst Japanese core machinery orders also disappointed. In Europe, the emerging market outlook is not bright either as the Turkish lira is taking a hit from violence or as Portuguese consumer prices were down 0.3% in August.

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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.