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...
above later oil peak prices remains seen supported targeting
The faltering uptrend...warns of choppy times ahead. However, we do not think we have seen the peak for oil and while prices remains supported above $56.50 we are targeting $75 later in the year.
cut fall looking meeting oil output pressure prices prior sharp
A sharp fall in oil prices prior to OPEC's end-January meeting is looking increasingly unlikely, and the pressure on OPEC to make a cut to output prior to Q2 is abating.
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.
correction despite further markets physical prices relatively steady suggest support threat worth
It is worth noting that prices are getting little support from the physical markets despite relatively steady prices of late, which suggest that threat of further correction remains.
dispute higher leaves open prices risk short solution
The possibility for a non-benign solution to the dispute leaves open the risk for higher prices in the short term.
chile copper demand disruption environment given lack last lend prices production rarely shipments spare strikes strong support tend
While strikes in Chile rarely tend to last for very long, any disruption to production or shipments will lend support to copper prices given the strong demand environment and lack of spare material.
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.
april gold level lower next push ratio target
Indeed, another push lower in the gold-to-silver ratio is still possible, with the next target level around the April 2004 low of 51.
atlantic disputes edge further operating serve system
In all, the disputes serve as further notice, if needed, that the Atlantic refining system is operating on the edge at the moment.
believe commodity data demand few growth looks past pickup risk sharp short strong
After the very strong pickup in U.S. growth data over the past few weeks, we believe the risk of a sharp slowdown in commodity demand looks negligible in the short term.
believe commodity data demand few growth looks past risk sharp short strong
After the very strong pick-up in U.S. growth data over the past few weeks, we believe the risk of a sharp slowdown in commodity demand looks negligible in the short term.
allied commodity continue continued desire equity fixed growing income investors likely performance strong strongly
The continued strong performance of commodity investments, allied to the desire of many institutional investors to diversify their equity and fixed income exposures, suggests that commodity investments are likely to continue growing strongly in 2006.
above driven mostly move recent
The recent move above $1,000 is mostly driven by speculative buying.