We find in a number of provincial centres where people are setting up galleries, they can have no idea what to charge for commission or the business of running a gallery, let alone documentation for the artist. So this booklet is a guideline for what you should provide for the artist.
When the oil market notices that China is back, and remembers the fire that China's exploding oil demand lit under prices last year, the 'China factor' alone should be sufficient to floor near-term prices.
The primary uncertainty right now is the extent of damage, and headlines there will go straight into prices.
We're just going from U.S. market report to U.S. market report.
Maintenance seems to be extremely high and there are spec changes in the United States. It's not that there are absolute shortages of products, but there is a concern about how much there is going to be.
Some consuming nations - if not the market - are still asking OPEC to increase production, so I consider it highly likely that they will raise the quota by at least 500,000 barrels per day.
Most of us had known days ago that the U.S. would loan oil but some people interpreted the headline as a release of oil, possibly of products. Then the market realized and started buying it back.
Most of us had known days ago that the U.S. would loan oil, but some people interpreted the headline as a release of oil, possibly of products. Then the market realized and started buying it back,
Funds are throwing a lot of money at all the commodities, and most of the commodity markets have been rallying.
If we are seeing China back to growth, that is another stress factor back in the oil market.
We've gone from comfortable U.S. gasoline stocks to average and seem to be heading very clearly toward the low of the range. The market is worried about that.
Today, everyone has moved off those two stories a bit. We're expecting a build in crude, so it's hard to simultaneously say crude is desperately short and U.S. stocks continue to build.
He comes with European ideas on curbing demand and believing in Kyoto,
I think the market is taking this too calmly and we could see prices bouncing back any time.
It is pretty clear that we can break $70 without too much problem.
It is not unusual to lose Nigerian supplies but headlines of armed men attacking facilities explains this little rally.
OPEC has been extremely accommodative in its policy in the last one and a half years.
Other than the weather, and hurricanes, and refineries going down, and Saudi Arabia and Iran, and strong economic statistics, there really is no reason why crude oil prices should be so high. It must be speculation, don't you think?
Refiners are exhausted, like runners in mid-marathon. They've been pushing very hard since last year. As a practical matter, these things have limits. If you push too hard, capacity drops.
We notice oil has been rallying at the same time as copper and gold. That we think has to do with the funds.
The approaching hurricane season reminds us of the utter devastation that Hurricane Ivan caused when it hit the Louisiana coast last year.
We continue to see fund action. They are coming in across the basket of commodities.
We had a much lower-than-expected build in natural gas supplies in the U.S. last week and this is also adding to general nervousness.
U.S. gasoline may be rattling people's cages. We're going to see another steep draw. That, Nigeria and Iran are the market's three hot buttons right now.
We get involved in long-term representation of people. Which means becoming very involved in their lives and offering ongoing representation even when works aren't selling.
The question is where to set our sights next. The only cap I see coming up is on the order of $85 a barrel -- something equivalent in real terms to the highest we saw.
We have been getting a massive injection (of investment fund money) in the energy markets. It is very clear from the price action that they haven't stopped.
We've been rallying on the weather and on short-covering ahead of Thanksgiving in the States.
While they want to prevent pollution but they also want to prevent chaos.
There is a lot of strength at $60. We have tilted above and below that level for days now and so long as the weather holds mild, we will drift down, but I'm not expecting a freefall.
There is a lot of strength at $60, ... We have tilted above and below that level for days now and so long as the weather holds mild, we will drift down, but I'm not expecting a freefall.
Before, it looked as though it was going to hit Houston and Port Arthur. Now, it looks like it's going to hit Corpus Christi, which is less important as far as refining is concerned, and it's also more on the periphery of the platforms.
Even though most of the comments say it's an accident, this is the sort of event you see more during war time.
At 70 dollars per barrel governments seem prepared to act.
Crude is still flooding in despite supply disruptions.
Crude is not the problem. The heart of the problem is how much refining capacity we have lost.
The United States doesn't have to worry about gasoline lines. But consumers need to worry about the price they pay this week. They should be prepared for a short-term shock. Only time can fix that.
It would be fair to say we are a little disappointed that some of our peers haven't participated,
The storm's track at the moment takes it through a different patch of the offshore oil production facilities to Katrina,
People dare not price in the surpluses they see.
The weather has become increasingly mild and the forecasts are for now much above normal, for example 17 (degrees Celsius) in Los Angeles -- this is extremely warm for the end of December.
It was black; you couldn't see nothing. There wasn't no life in her. All that smoke.
It was scary but we had each other so we kept our sense of humor,
It was a warning that it is too soon to think we are in the era of a price meltdown.
It's turned around, and it seems to be related to the injection of capital that we believe is coming from pension and mutual funds. All week it has been like this, a cross-commodities rally.
It's true that in the short term people find it difficult to change. What happens in the long run is that the transport and industry tends to be efficient, and conservation will occur.
It looks as if this could hit what was missed before, risking damage to refineries near Houston and Port Arthur.
Each problem is just a reminder as to how close to the edge we are running. The refiners have been running a marathon for two years, they are exhausted.
That's a massive amount of demand destruction. We could be in a very tricky position by the first quarter if the EIA is not right.
The knee jerk reaction to this sort of headline is to think of the Middle East as a powder keg.
Internationally, I've seen the interest in New Zealand art is huge, ... but we have never had an event to showcase it.
The market can't keep rallying on global supply worries. When it looks to the US and sees stocks are rising yet again it tends to calm things down slightly.
The Iranian situation is making us all very nervous... We don't seem to be getting anywhere on the diplomatic solutions.
The uncertainty in the Russian tax regime is definitely a problem. In my view however it is not greatly surprising. As barrel prices are far higher than anyone expected to expect these kind of deals - between companies and government - to remain stable isn't really possible.
The hurricane season is very far from being behind us in terms of crude, products and natural gas supplies. Refineries that are back in operation haven't been able to return to full rates. It's difficult to meet demand.
The IEA report is very neutral. It is playing up the demand slowdown in China and 8 out of 9 OECD countries and down-playing the gasoline situation.
The IEA release has thrown some water on prices. But what remains to be seen is how strong the fundamentals are and whether there will be any more hurricanes.
The IEA is doing what it can to talk the market down. The spin is don't worry too much, we've made this release, there might be another and demand is slowing down.
The IEA have only predicted losses in refined crude production for September, and the reality is that 4 major US refineries with a total output of 900,000 barrels are still down, and they are expected to be for the next 2-3 months.
The current trend is demand destruction. Nobody knows whether that is right or not. We're looking for any evidence demand destruction is the case.
The current gasoline supply situation is much worse than any of us had hoped.
The crude market and the global economy have been quite willing to pay $60 a barrel without harm. The only thing that has happened is that the economic boom that gave us the fastest economic growth in 25 years has slowed a little bit to bring demand back in line.
The chance of all that being met the entire winter is zero.
The figures are either virtually as expected or they are a bit more bearish than expected, which was the case for gasoline.
The market was pricing mild, mild, mild and now winter is here and the market has rallied on that,
The market is reacting today as if oil at less than $74 a barrel is a bargain.
The market is overreacting but the market is right, the stats were quite bullish.
The market is extremely hesitant to go below USD60 a barrel and that is because of the Nigerian outages for the most part.
The market is extremely hesitant to go below $60 a barrel and that is because of the Nigerian outages for the most part.
