Tim Evans
Tim Evans
appear conditions current electricity last similar year
From the current snapshot, (electricity) conditions look a lot more similar to last year than they appear different.
april covering crude draw last oil short since surprise total trigger weekly
Crude oil may have been able to trigger short covering off the surprise 1.3 million-barrel draw from last week, but inventories are still at their second-highest weekly total since April 1999.
blows calming cycles data gulf hurricane last rita week
There may be more cycles of hyperventilation yet to come as Hurricane Rita blows through the Gulf of Mexico, but the DOE data for last week was a calming influence.
april crude despite drop last market near remain stocks surprise
Despite the surprise 1.3 million-barrel drop in DOE crude stocks for last week, inventories in the market remain near April 1999 highs.
build gasoline last price seeing several weakness
The gasoline build is substantial and it confirms the price weakness we've been seeing over the last several days.
despite drawn extent last limiting market might page positions prices profit pushing short storage taking warmer week
The natural-gas market is on a completely different page now, with profit taking on short positions pushing prices higher, despite what are still impressively bearish prospects. This week will be warmer than last week, limiting the extent to which storage might be drawn down.
attempting clear crude market move oil
It is pretty clear they were attempting to move this oil into a crude oil market where there was already a surplus.
data expect fit model neat ought report surprising
It is a surprising report in just about all respects. But I think it is something that we have to expect in times like these that the data doesn't always fit into a neat little model of what we think ought to be happening.
attractive becomes both commodity emerging focus general gold less lows markets near oil since surrogate
Really, we've had some focus (on oil) since mid-February, when both markets made a significant low, and both markets had a near retest of those lows on Wednesday. Oil is emerging as the focus for the gold market as a surrogate for general commodity inflation. Without that kind of commodity inflation, then gold becomes a less attractive investment.
cash move profits rush
Really, it's just a rush to cash in profits on what was really a spectacular move higher.
activity along came coast gulf imports looking rebound
I was looking for a rebound in imports as some of the activity along the Gulf Coast came back to normal.
fact mechanism physical pricing risk shortage
The fact that their pricing mechanism is market-related minimizes the risk that a physical shortage would arise.
achieve balance bargain bit bottom drop hunting pick selling side trying
We're really just trying to achieve a little bit of a balance between follow-through selling after Tuesday's big drop and a little bit of bargain hunting on the other side of the ring, trying to pick a bottom here.
consensus continue gold higher strong trend warning year
There is a very strong consensus that gold will continue its trend higher this year and that, in itself, is a warning sign.