Barclays Capital
Barclays Capital
Barclays Investment Bankis the investment banking division of the British multinational Barclays bank headquartered in London. It provides advisory, financing and risk management services to large companies, institutions and government clients. It is a primary dealer in U.S. Treasury securities and various European Government bonds...
beyond context global grind inclined interest numbers respond suffering weekly
Some (traders) are suffering risk-fatigue and are not inclined to respond to anything much beyond the grind of the weekly U.S. numbers and have little interest in the geopolitical context or the global context of the data.
capacity crude lacks oil refine short spare
Crude oil was the one thing not in short supply. What the U.S. lacks is oil products, especially gasoline, and it lacks the spare capacity to refine more crude.
break continue likely looks potential prices though trade upside
Range-bound trade looks likely to continue for some time, though we see potential for prices to break on the upside after this consolidation phase.
appears bullish continue downside limited near prices range remains sentiment though underlying wide
Prices should continue to consolidate in the wide range of $535-$555 in the near term, though the underlying sentiment remains bullish and downside appears limited at present.
begin data early later product situation sooner supply though weekly
Sooner or later the seriousness of the situation for U.S. product supply will begin to show in the weekly U.S. data releases, though it may still be too early for that today.
demand miss price remain supply
Don't miss the boat, again. Supply and demand fundamentals remain constructive for the price up-trends to persist.
apparent believe chinese crude demand figures imports october oil period rise signals stronger
We believe the rise in Chinese crude oil imports in October signals a period of stronger Chinese apparent demand figures over Q4 2005 and Q1 2006.
above balance cannot commodity dominating further gains gold high inventory market momentum oil prices ruled strong terms
While we think such high prices are not justifiable by gold 's commodity fundamentals in terms of market balance and inventory levels, the combination of a surge in oil prices above $70/barrel, geopolitical tensions and strong momentum is dominating at present, and further gains cannot be ruled out.
area close company complete continue due either lack obvious question situation strike workers
We continue to question how close the situation now is to either complete company withdrawal from the area or a strike by workers due to the obvious lack of security.
continue expect forecast minutes rate risk suggest tone upside
We continue to expect two more rate hikes, but the dovish tone of the minutes suggest that upside risk to this forecast is limited.
balances below current demand estimates fallen further gasoline indicate market oil relative remains year
U.S. gasoline inventories have fallen further below their five-year average, while U.S. oil demand remains strong. Our estimates of current market balances indicate a significant tightening relative to a year ago.
concerns expect inflation investor light near oil positive rally recent rising sentiment supported supportive
Much of gold's recent rally has been supported by positive investor sentiment in light of rising oil prices, inflation concerns and geopolitical volatility, and we do not expect these supportive macro-factors to dissipate in the near term.
aggressive conflict discourage eventual help resolution selling
Uncertainty over the eventual resolution of this conflict would help discourage aggressive selling interest.
above driven mostly move recent
The recent move above $1,000 is mostly driven by speculative buying.