Commodity-related funds remain in demand because the fundamentals remain the same -- we have strong economic growth in Japan, the United States and China that is going to drive up demand, while spare refining capacity remains limited.
More Quotes from Tony Nunan:
It is unknown how extensive the damage to the refineries is.Tony Nunan
Even if there is a stock draw, unless it is substantially and unexpectedly high, I would not expect prices to go up above 60 as the near-term market is still heavily weighed down by high inventory levels and the warmer weather.
Tony Nunan
Overall big picture is the market is still strong,
Tony Nunan
In the short and medium term, there's no crude oil problem because the U.S. government will release stocks and IEA will release stocks to cover that shortfall.
Tony Nunan
Though there seems to be a lot of crude around, the long-term view is bullish. The U.S. Northeast will get colder and people may be concerned with middle distillate supplies.
Tony Nunan
It looks like the market just doesn't want to go down. I think everybody is going to be watching stocks today.
Tony Nunan
Readers Who Like This Quotation Also Like:
Based on Keywords: commodity-relatedA woman whose smile is open and whose expression is glad has a kind of beauty no matter what she wears.
Anne Roiphe
Reality can destroy the dream; why shouldn't the dream destroy reality?
George A. Moore
Sometimes, only one person is missing, and the whole world seems depopulated.
Alphonse de Lamartine