28.10.2011 - Material matters: Oil the global indicator, thermal coal outlook stable
In the view of Citi, the oil market at present continues to be torn between current fundamental strength in the market and macroeconomic-pessimism, as well as between current supply and the potential for stronger production from Libya and elsewhere after the upcoming northern winter. Given firm oil market fundamentals and some slight improvement in the macro environment in the US and China, West Texas Intermediate (WTI) has broken its downward trending channel. The market has moved into backwardation notes Citi, which means prompt prices are higher than deferred prices. There is potential for Brent crude prices to do the same...............................................Full Article: Source
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