17 Jun 2014
WTI, Brent slightly off following IMF cut in US GDP forecasts
Independent Analyst Malcolm Graham-Wood says that traders report a quiet market yesterday as buyers withdrew and Brent stayed in an 80c range whilst WTI was up a touch ahead of API inventory stocks today in which inventories are forecast to fall modestly.
Key quotes
“Both crudes are slightly off this morning as the market digests the IMF cut in US GDP forecasts.”
“Although Russia finally cut the supply of gas to Ukraine and European prices firmed 8.8%, a record for the July contract, there is no panic as stocks are high after the mild winter.”
Key quotes
“Both crudes are slightly off this morning as the market digests the IMF cut in US GDP forecasts.”
“Although Russia finally cut the supply of gas to Ukraine and European prices firmed 8.8%, a record for the July contract, there is no panic as stocks are high after the mild winter.”