Sharekhan Commodities Buzz dated January 22, 2007

[Sunil]

 

Commodities Buzz [January 22, 2007] Please see the attachment for details Share khan www.sharekhan.com

Summary of Contents   COMMODITIES BUZZ Crude Oil: Colder weather forecast supports prices Crude oil futures dipped below the psychological support of $50 per barrel, but subsequently climbed above $51 on the forecast of colder than normal weather in the northeastern past of the USA. The National Weather Service's latest 8-10 day (up to February 4) forecast expects below-normal temperatures to continue along the east coast. The heating demand in New York will be 4% higher than in the week ended January 26. Speculative short positions on the NYMEX have come down as per the January 16, 2007 CFTC report. The commodity seemed to have found a short-term bottom and is likely to trade steady during the day.

Regards, The Sharekhan Research Team myac...@sharekhan.com

--
http://DEADPRESIDENT.BLOGSPOT.COM