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...
conditions general market nervous next price remain
Market conditions will remain nervous and there is a general sense of uncertainty over the next big price move.
activity asian bank based buying central concerns continue dominate economic fund hopes interest physical price soaring
Speculative activity will continue to dominate price movements, with fund interest based on justifications such as economic slowdown, inflationary concerns and hopes of Asian central bank buying and soaring physical demand.
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.
buying help levels physical price provide unclear
Physical buying could help provide some support, but it is still unclear at which price levels they would re-emerge in significant quantities.
demand miss price remain supply
Don't miss the boat, again. Supply and demand fundamentals remain constructive for the price up-trends to persist.
given group interest positive price renewed risks sentiment
Given the renewed interest in commodities and positive sentiment in gold, price risks for the (platinum group metals) are still very much on the upside, in our view.
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.
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.
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.
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.
absence both close created driver key limits oil run slack
The oil system, both upstream and downstream, is being run close to sustainable limits and the tensions created by the absence of slack are now the key driver of prices.
broader charts closely correction further market near phase signs subject technical term towards trend weakness
The market could be subject to further weakness in the near term towards $535. The technical charts will be closely monitored in this correction phase for any signs of a broader trend reversal.
damage energy gas hurricane natural recent
Recent hurricane damage in the U.S. has impacted natural gas more than any other energy market.