Cautiously optimistic of a firmer trend
Macroeconomics
Everything on the macroeconomic front has been reasonably quiet over the past few weeks.
Oil prices were driven more by psychological effects rather than fundamental factors. Riots in Nigeria stopped the weaker market trend, but the upcoming end of the winter season in the Northern hemisphere, with high fuel consumption for heating and sufficient stocks should keep prices under control – although the tensions and risks in the Middle East must not be forgotten.