Tim Evans
Tim Evans
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.
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.
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.
markets recent since traders trends
The markets are bracing for Thursday's DOE reports, with traders cringing since the recent (supply) trends have been bearish.
call hold lost market pull silver staging time week
It's staging what I would call a catch-up move. After resisting the upward pull of silver all week long, the market couldn't hold back any more and is making up for lost time here.
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.
drained market means oil petroleum short strategic
In the short run, it means more oil drained from the market into the Strategic Petroleum Reserve.
energy exhaustion market reach risk
The market has used considerable energy just to reach this level. We see risk of exhaustion now that it's here.
balance chopping looking market opportunity price relaxed storm updates
There still may be ample opportunity for price chopping off storm updates over the balance of the week, but the market is looking considerably more relaxed today.
data morning quite trouble
It's having trouble getting out of its own way. Fundamentally, the CPI data from this morning was really quite mixed.
inside
This is really just some short-term consolidation. We are inside of yesterday's range.
crude desire hold lack limit material oil reflects start stocks sure trend
I'm not sure this is the start of a new trend in crude oil stocks and it probably reflects more of a desire on the part of refiners to limit the material they hold than it does a lack of supply,
crude decline drop further oil stocks surprised
I'm surprised by the drop in crude stocks and the further decline in crude oil imports,
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.