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.
More Quotes from Barclays Capital:
U. S. gasoline inventories have fallen further below their five-year average, while U. S. oil demand remains strong. Our estimates of current market balances indicate a significant tightening relative to a year ago.Barclays Capital
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.
Barclays Capital
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.
Barclays Capital
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.
Barclays Capital
The loss in potential gasoline output from these plants alone is expected to be of the order of 600,000 barrels a day.
Barclays Capital
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