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Addendum to the previous update on Brent Crude oil slide
It should have been mentioned in the previous update, but the reason for the fall in oil prices just now has been a report from the IEA (International Energy Agency). They have downgraded their 2024 demand outlook by what seems to be around 140k barrels per day (BPD). That report does rather contrast with the latest outlook from OPEC, but then again; when did OPEC ever seek to drive prices lower folks. Brent is not that much changed right now from where it was at the time of the last update and later today we get the latest inventory data from US EIA and the oil markets will be keen to see if that backs up the build in stocks seen last night from the API
Market News
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A note about Quick News updates this afternoon as the DAX rejects first attempt at 22k
Earlier an update here noted the surge in the DAX and the prospect, or possibility that it might test the 22k handle. Well, in the event it stalled... -
Is Tump playing the fool or just playing the markets? Dow Jones futures eyeing yet more gains
Before we get to the crux of this update let it be stated; that no one is being accused of anything and this is just a conscientious observers take on... -
US PMI data could be telling this afternoon- S+P 500 close to session highs
So, we have had a whole host of PMI data from Europe this morning and later this afternoon, at 1.45pm GMT we will get the equivalent data from the US...
