Gold leads the way for oil

 “The refining sector and distillate inventories are out of balance with normal market conditions”, says Thorbjorn Bak Jensen, Oil Market Analyst in Global Risk Management in his latest Quarterly Outlook on the oil market.

“Inventories must be reduced to balance the market. When balance is found again and OPEC slowly produces more oil as demand increases and inflation returns, oil prices will start increasing”, Thorbjorn continues.
 

Global Risk Management has revised its oil price forecast up and sees moderate oil prices in mid 2010 as fundamentals begin to firm with growth expectations. As OPEC spare capacity lowers on lack of investments and recovery takes hold – oil prices will go through the $100 barrier.
 

You can read and download the report on our website:

http://www.global-riskmanagement.com/Our_services/Quarterly_oil_market_reports.aspx 

Global Risk Management is a leading provider of customised hedging solutions for the management of price risk on fuel expenses. Combining in-depth knowledge of the oil market, finance and transport, Global helps clients protect their margins from the risk posed by notoriously volatile fuel prices. Global Risk Management is part of the United Shipping and Trading Company (USTC), one of Denmark’s largest companies. Employing over 750 people, USTC had an annual turnover exceeding $7.1 billion in 2008/09, and equity of more than $128 million.