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.
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
Given the overall positive sentiment and an apparent lack of interest to short the marker aggressively, we see further room on the upside.
Barclays Capital
Range-bound trade looks likely to continue for some time, though we see potential for prices to break on the upside after this consolidation phase.
Barclays Capital
Indeed, another push lower in the gold-to-silver ratio is still possible, with the next target level around the April 2004 low of 51.
Barclays Capital
U.S. payrolls are much more pivotal today than in prior months. A strong outcome would encourage the market in its increasingly optimistic view of the US economy and hawkish view of the Fed.
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
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