April 14th, 2014
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· US consumer confidence at six-week high
The Thomson Reuters/University of Michigan index for consumer confidence for April showed a rise to 82.6 (up from 80 in March), the highest level since July 2013. The survey on current economic conditions also beat expectations.
· 35 killed in attack near Nigerian capital
In what is the first attack near the capital in two years, at least 35 people in two buses were killed by bombs Monday morning. The Islamist Boko Haram group is thought to be behind the blast. The group has mostly been acting in the northeast of Nigeria (60 were killed in a village in northeast Nigeria end last week), but the attack close to the capital brings the violence closer to the rest of Nigeria. The islamist fighting is not directly linked to the oil violence but brings further uncertainty for oil companies operating in Nigeria.
· Total approves $16 bn Angola oil project
French oil company Total said on Monday it had decided to go ahead with the Kaombo oil project offshore Angola. The field is expected to produce 230 000 bpd from 2017. It shows that oil companies still believe in offshore oil projects despite the rise in US shale oil.
YESTERDAY’S MARKET .
Crude prices ended roughly flat yesterday. On the bearish side, both IEA and OPEC forecast lower oil demand. However, US consumer confidence beat expectation and the tension in Ukraine continued although Russia on Friday said contracts with European customers would be honoured. Please note that the information provided hereby merely contains observations and forward-looking expectations which are subject to risk and uncertainties related to e.g. financial and market conditions in relevant markets and may otherwise be subject to change. The purpose of this information is to share insight, which has been reported through common sources or our network. The Wilh. Wilhelmsen Holding ASA group of companies undertakes no liability and makes no representation or warranty for the information and expectations given in this information or for the consequences of any actions taken on the basis of the information provided