Tim Evans
Tim Evans
build bulls case drop fight hurt month past price stocks trying
The bulls are trying to put up a fight here, trying to make a case that the build in stocks and the drop in price over the past month haven't really hurt all that bad.
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.
climbing crude demand downward high level price reminder revision stocks trouble
The OPEC demand revision is more of a reminder than anything else. Between the high level of crude stocks and the downward revisions to demand, the price should have trouble climbing like it has done this week.
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,
average barrel build early further january likely mild million readings rise stocks tendency time toward
Stocks have a tendency toward a counter-seasonal rise in early January ... but the mild readings this time around make a further 2 to 3 million barrel build more likely than the 1.1 million barrel five-year average increase.
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.