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Archive for April, 2016

April 29th, 2016

PVM Midday Report 29 April 2016

Headlines

Russian crude oil output edges lower in the first four weeks of April to 10.86 mbpd
Reuters oil poll raises 2016 Brent and WTI price forecasts to $42.30 & $40.50/bbl
Sources claim…


April 29th, 2016

The 1Q curse strikes again

All is not well with the global economy. The latest health check of the US economy revealed that it has joined several other major economies in suffering a slowdown in…


April 29th, 2016

Targets higher whilst above the 5-day MAs

Introduction. The contracts have broken out to the upside, held on to their gains, and have targets higher. These objectives are on WTI to 47.83; July Brent 48.37; June Heat…


April 28th, 2016

PVM Midday Report 28 April 2016

Headlines

Asian imports of Iranian crude oil surge by 50% y-o-y in March to 1.56 mbpd
Russian exports of oil products from its Black Sea port of Tuapse set to rise in…


April 28th, 2016

Fed has more influence over oil prices than the EIA

The EIA reported total US commercial stocks rose by more than 5 million bbls to 1.369 billion bbls in the latest week. With demand currently running at 19.83 mbpd this…