We've still got a capacity squeeze from that area. Demand has been very strong short-term and we expect it will be strong next year. |
What we've seen over the last couple of weeks with disruptions at copper mines has narrowed the opinion of whether the market is going to be in deficit or surplus. More and more people are thinking it's going to be in deficit this year. |
While we continue to assess the damage from Katrina, the threat to production of new storms is attracting everybody's attention and could drive prices right back up. |
With commodity returns outperforming other assets in recent years, pension and hedge funds are expected to increase investments in commodity markets. |
With refineries ramping up at maximum capacity and with the weather having been warmer than usual over the past two weeks, the build was not that much of a surprise. |
With this week's stock announcement likely to show a fresh decline in gasoline, it adds to market fears caused by the switch to greener fuels. |
You've got to wonder, where would it go? There's no spare refining capacity to refine it and we're starting to run out of places to store it. Crude stocks are swelled and there's little demand for that additional supply. |