Andrew Harrington
Andrew Harrington
appear certainly degree expecting healthy last numbers profit rise stocks taking
We're expecting stocks to show another rise from last week's healthy levels. There's certainly a degree of profit taking before the numbers appear after Monday's Iran-driven rally.
company cost costs holding mind mines mining needs plants processing producing terms weighed
The cost of producing more from mines and processing plants needs to be weighed in terms of costs when boosting production, but no mining company in its right mind would be holding back if it didn't have to.
continuing demand picture points strong
The fundamental picture for commodities points to continuing strong demand from consumers.
driving early people price reaction signs supplies worried
People are already worried about supplies for the driving season, even this early on. There's going to be a price reaction if there are any signs of shortages.
appears organized prices room series
This appears to be a more coordinated and organized series of attacks. Prices have room to go up $3 or $4 a barrel.
aside continue east emerges factors growth influence investors level middle might month negative news past stocks
Geopolitical factors will continue to influence prices. The growth in the level of stocks might be put aside by investors as they have done over the past month if more negative news emerges from the Middle East or Venezuela.
high numbers people perceived relatively size stocks suggest talk terms therefore
People talk about stocks being relatively high in terms of the five-year averages, but it's not as rosy as those numbers suggest because the size of the economy, and therefore demand, has grown. There's still a perceived tightness in the market.
crude less products recent refined traveled
Having more or less traveled together, refined products and crude have become disconnected in recent weeks.
iran meeting situation
The geopolitical situation with Iran and the meeting on Monday...is weighing heavily on the market.
continues cuts decisions iran rash weigh
Iran continues to weigh but there is a sense that it's a longer-term situation. I don't see any rash decisions about sanctions, embargoes or cuts in supply.
stronger supply terms
Zinc is a lot stronger in terms of supply characteristics than the other metals.
certainly gold money silver
Gold and silver were certainly benefiting from speculative money and that was never going to be sustainable.
couple forces
There are a couple of countervailing forces in play.
capacity crude demand market moment products refined seems stronger sufficient though
Though crude seems sufficient at the moment it is the refining capacity that is the real bottleneck. Implied demand for refined products indicates a stronger market for crude oil.