The markets seem to be pricing in close to zero probability of something going wrong.
More Quotes from 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
After the very strong pickup in U.S. growth data over the past few weeks, we believe the risk of a sharp slowdown in commodity demand looks negligible in the short term.
Barclays Capital
We believe the rise in Chinese crude oil imports in October signals a period of stronger Chinese apparent demand figures over Q4 2005 and Q1 2006.
Barclays Capital
Italy's problems appear so deeply rooted that the next government, whatever its complexion, is unlikely to do little more than make a start at solving them.
Barclays Capital
Geopolitical tension, with Iran restarting uranium enrichment ... coupled with high oil prices stocking inflationary fears are supportive for gold's perception (as) a safe-haven asset.
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
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