Quotes from Commerzbank Corporates & Markets:
-Over the course of February, the price of Brent oil has recovered to levels above USD 60 per barrel, with the US benchmark WTI trading at a high discount, at USD 50, owing to record-high US crude oil stocks. In early March, prices on both sides of the Atlantic are likely to trend sideways initially.
-While in most regions of the world, current economic indicators should turn out a bit more positive than in the previous month, they are unlikely to raise hopes of a considerable revival in oil demand. The alleged further decline of US oil rigs is unlikely to push prices further up either.
-For one, the downtrend in drilling activities has lost momentum on the back of the latest oil price recovery and, for another, US production is still showing no signs of cooling.
-Most notably, however, the ongoing increase in US crude oil stocks is likely to choke off any further price recovery. We are even convinced that the massive over-supply will send prices on the oil market lower yet.


Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 



