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PVM Midday Report 25 November 2015

Published Wednesday, November 25th, 2015

  • The API reported stock builds on all fronts
  • Turkey does not want escalation with Russia after jet fighter is brought down
  • European stock markets are up after yesterday’s losses
  • ECB discusses two-tiered bank charges


The news that caught the eye this morning are reports that the European Central Bank is considering the introduction of a two-tier penalty charge on banks that heard cash. The proposal sent the euro weaker which has fallen below the 1.06 level against the dollar putting downside pressure on oil. The same way as the relative calmness between Russia and Turkey is pressuring oil prices it supports European stock market after yesterday’s slide. The FTSEurofirst 300 index is up 1.23% at the time of writing. Eurozone bond yields are down 1-2 basis points due to the prospects of further monetary easing from the ECB.

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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.