Gerard Burg
Gerard Burg
current given high lack prices revision support volatility
The upward revision in prices is made tentatively given the lack of fundamental support for current high prices and the traditional volatility of speculative funds.
bit came continuing high prices pushed question rise surprised whether year
We see prices continuing to rise during the year but the real question is whether we have pushed up a bit too high with speculative interests. I wouldn't be surprised if it came off a little.
assess attention attracting continue damage drive prices production storms threat
While we continue to assess the damage from Katrina, the threat to production of new storms is attracting everybody's attention and could drive prices right back up.
barometer conditions copper fall market perceived prices remove support therefore
Copper is often perceived to be the barometer for market conditions and therefore a significant fall in copper prices could remove speculative support from other metals.
capacity crude ease expanding expected exporting higher intention likely maintain oil petroleum prices strength support
Prices are expected to ease in 2007 as expanding refinery capacity reduces some of the bottleneck in that sector. However, the likely strength of oil demand, as well as the Organization of Petroleum Exporting Countries' intention to support higher prices will maintain crude oil prices at historically high levels.
again colder drive prices situation supply supporting turn weather
Even with this weather it's not been enough to drive prices considerably lower. Once again we've got that overhanging thought that things could turn colder again and the supply situation still isn't that good. That's supporting prices where they are.
balanced causes crude damage exceed katrina last markets oil prices production push remain saw shot toward year
We saw last year just how much oil shot up after Ivan. Crude markets remain delicately balanced and if Katrina causes substantial damage to production facilities, oil prices will exceed $70 and could push toward $80 a barrel.
balanced causes crude damage exceed katrina last markets oil prices production push remain saw shot toward year
We saw last year just how much oil shot up after Ivan, ... Crude markets remain delicately balanced and if Katrina causes substantial damage to production facilities, oil prices will exceed $US70 and could push toward $US80 a barrel.
gas meet natural oil pressure prices push shift supply
We should see pressure to shift to heating oil if natural gas supply can't meet demand, and the shift to distillates will push prices up further.
base below falling forecast metal outcome prices result
Such an outcome would result in base metal prices falling well below our forecast levels.
action impact market mention mere military prices sends true
The market is not really factoring in the true impact of military action but the mere mention of it sends prices higher.
appears city coming energy few further increases line main next positive rise texas
The big positive there was that refinery utilization appears to be on the rise now. The main one coming back on line was the BP Texas City refinery, so with that one coming back we should see further increases over the next few weeks.
coming funds pension
The big increase...is the pension funds that have been coming in.
again bit gasoline providing support
Again it's the story of gasoline inventories ... providing a bit more support for prices.