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Market Briefing
Michael Poulsen, A/S Global Risk Management Ltd.
22 Jan 2015 10:21 GMT





A/S Global Risk Management logo. Wait and see what Draghi's move will be (Brent: $48.9)

The weekly API oil inventory data showed build in crude stock (5.700M), draw in distillates (-1.800M) and builds in gasoline stock (2.100M); now markets will watch this afternoon's official EIA oil inventory report for a confirmation of the trend. Expectations are, however, builds in all stocks. Early January showed a U.S. oil production of 9.19 mio. barrels per day; which is the highest weekly level since 1983.

Main potential market mover today is the European Central Bank interest rate decision followed by press conference this afternoon; it seems to not be an issue IF Draghi will introduce quantitative easing program; the question is rather HOW BIG the money injection will be. The program is designed to make Europe escape the current deflation and lead it back into growth.

At the World Economic Forum in Davos, OPEC's decision not to take action to curb the oil price drop was addressed among others by oil firms which warned that the current low prices could lead to lack of investments in the business and thus lead to oil shortage in the longer term.


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Company: A/S Global Risk Management Ltd.

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