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Thursday 11th of December Market Report

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Thursday 11th of December 2014 as of 11:00 CET

Crude is trading below 65 this morning and we have seen a big adjustment of the outlook for oil and oil related stocks last week. There will be big implications for many producers, because a price level below 80 USD in Brent oil over a several months period means their production is no longer profitable. Russia needs 110 USD per barrel to balance their budget.  The big problem now is that oil prices have fallen so much that any rally will be used by producers to sell short futures to hedge for potential even lower prices. This will put a natural downward pressure on prices for quite some time.

EURNOK trading above 9 level for the first time since July 2009. Norwegian budget is est Brent crude at 535 NOK for 2015, now trading 468. That means the Brent crude price have to be 72 or higher to balance the budget for Norway with current USDNOK at 7,25

S&P 500 futures failed again at 2070 last week and the close below 2052 is a signal that we can see a much bigger sell off in the near term.

Euro is looking weak below the 1,2550 level, but given the Feds indication recent weeks of low rates for an extended period, the bigger slide below 1,20 that we were looking for might be delayed a bit.

Silver looks like an interesting long towards 15 level for a potential rebound towards 18,50 level.

Gold is weak below 1230 USD. Big support is 1080 level.

Asian markets closed lower with Hong Kong Hang Seng Index down 0,90%, Australia’s S&P/ASX 200 down 0,53% and Nikkei 225 down 0,89%.

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Risk Warning:  

Any information in this report is based on data considered to be reliable, but no representations or guarantees are made by KBR Capital Partners AS with regard to the accuracy of the data. This information is provided on condition that we accept no responsibility, legal or other for its contents. We, including our directors, officers, employees or publishers, disclaim all liabilities. Any statement constitutes only current opinions, which are subject to change. Neither the information nor any opinion expressed shall be construed to be, or constitute an offer to sell or a solicitation of an offer to buy any investments mentioned herein. Prices can go down as well as up. There is a significant risk involved in derivatives trading, including the risk of loss greater than the original investment. Past performance is no guarantee of future results. Conditions can vary from client to client, and therefore influence performance. The opportunity for profit creates a corresponding risk of loss. Anyone wishing to invest in any of the products mentioned should seek their own financial or professional advice.