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Market Briefing
Michael Poulsen, A/S Global Risk Management Ltd.
10 Mar 2015 08:45 GMT





A/S Global Risk Management logo. Oil prices slip on dollar and Libya (Brent: $57.9)

Oil prices slip below $58 (at time of writing) as markets are finding their feet after Friday's improved U.S. jobs report and the dollar gained further. News of increased exports from Libya also weighs on prices.

This morning, Chinese inflation data inched up to 1.4% (from 0.8% previous); however, the producer price index (PPI) continued to slide (-4.8% versus -4.3% previous). The PPI has been below zero for more than 3 years now.

The yo-yo output continues in Libya, where two eastern ports of Hariga and Zueitina are said to export more than 2 mio. barrels this week; or around 400,000 barrels per day.The largest oil ports in the country, Es Sider and Ras Lanuf, have been closed since December due to unrest and fighting in the war-torn country.

Main potential oil market mover today will be tonight's weekly oil stocks data from the American Petroleum Institute ahead of tomorrow's EIA inventory report. Crude stocks are expected to augment futher; the main question is by how much….


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Company: A/S Global Risk Management Ltd.

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