Written Commentary
Market Update
- Market reacted positively to strong export figures out of China, offering further support to expectations of continues economic growth. This coming after Saudis dropped the price of crude to Asia yesterday.
- With covid more under control presently and Europe showing more signs of economic recovery, sentiment has shifted slightly towards a more positive stance
- Hurricane Ida has had more impact on the supply of oil in the gulf of Mexico than any other storm including Katrina.
- In the background one should consider the possibilities of further outbreaks of Covid slowing down any economic recovery, whilst also talks on the Iranian nuclear deal may restart soon after Iran and France spoke about the possible resumption of talks
Oil Data Release
Macro Data Release
Contact the ADMISI Energy Desk
Marco Saggese, Sharon Mitchell, Tony Scuderi
Phone: +44 (0)20 7716 8550 Email: energy.desk@admisi.com
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Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.
ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.
A subsidiary of Archer Daniels Midland Company.
© 2024 ADM Investor Services International Limited.
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