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Market Briefing
Michael Poulsen, A/S Global Risk Management Ltd.
16 Nov 2015 11:14 GMT





A/S Global Risk Management logo. Global oil buffer swells; geopolitical risk premium up (Brent: $44.8)

Volatility is high as markets are digesting the impact of Friday's terror attacks in France and news of French air strikes against Islamic State in Syria.

Though fundamentals remain weak with oversupply and potential demand slowdown, the geopolitical risk premium increased over the weekend as France stepped up the fight with large-scale air strikes in retaliation to Friday's attacks in Paris.

Friday showed a slight increase in the number of active drilling rigs in the U.S.- up 2 rigs after 11 weeks of drops. Also weighing on oil prices was info from The International Energy Agency (IEA) that record supplies from both OPEC and non-OPEC countries are making the oil buffer swell. In its monthly report, the IEA added that supplies could decline next year as the low prices prevent investments in new wells and technologies.

This morning, Japanese GDP declined for the third month in a row. Later today, ECB's President Draghi will speak; other than that there are no major economic data releases today. Tomorrow sees Germen ZEW Economic Sentiment and U.S. inflation data (Core CPI) along with a number of Fed speeches. Late tomorrow, the weekly oil stocks data from the American Petroleum Institute will be published.


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Company: A/S Global Risk Management Ltd.

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