[T.S.R:16613] Silver MADE 46135 ON MCX $30.63 CME LEVELS AS PREDICTED..World Oil Demand This Year Probably Exceeds 07's Level...

SILVER MADE 46135.. STRONG GAINS LAST TIME IT FALLED FRM HERE 

SO IF CROSES $30.8 THEN BUY AGAIN FOR $31.25 OR NEAR MORE...

SORRY FOR POSTING WRONG CRUDE OIL INVENTORY WILL COME TOMMORROW AT 9.30pm, SO A FLAT RANGE BOUND 4113-4148 TRADE IS GOING ON..

NATURAL GAS STOARAGE DATA WILL COME AT 9.pm..IT GOT RESI 196-198 if cross then 203-207..

COPPER Feeling the Heat as $4.32 traders Making their way out..

ZINC Gained 2% at 107.. LEAD GAIns 1.5% 113 N near..

World Oil Demand This Year Probably

Exceeds 07's Level...

Currently trading at 91, the front-month contract for WTI crude oil moved sideways around its 26-week high. Narrow-trading may continue throughout the day as there lacks trigger from the dataflow and EIA's weekly inventory report will be released on Thursday, a day delayed due to Christmas. Gold initially climbed to 1410, the highest level since December 7, before pulling back to 1405. The outlook for the commodity markets in 2011 remains bullish. While tightening in China and sovereign debt crisis in the Eurozone are downside risks, these threats should not have material impacts on the upward demand trend. Meanwhile, abnormally cold weather in the Northern hemisphere and geopolitical risks - the Korean peninsula, Iran and the West, and the US and China- will raise appeals of hard assets.

As the market awaits the oil inventory report, consensus forecasts US crude inventory dropped -2.85 mmb to 340.7 mmb in the week ended December 24. For fuels, gasoline stockpiles probably increased +1.63 mmb while distillate inventories slipped -0.88 mmb. Over the past 3 weeks, US crude inventories have decline -19 mmb, taking stock back to levels in 1Q10. Indeed, the drop in US crude inventory is just a catch-up of the decline in global oil inventory. Oil demand has been strong this year with world demand projected to reach 87.45M bpd (IEA), up +2.47M bpd from 84.98M bpd in 2009. The growth will be the strongest in 30 years. While a weak base effect in 2009 might have contributed to the strong result, the projected demand of 87.45M bpd actually exceeded the level in 2007.

China has been a major growth driver and therefore the sharp decline in crude oil net imports in October spurred worries about a slowdown. Indeed, November net imports rebounded and restored confidence. We expect the Chinese government will raise interest rates further in the first half of 2011 but the negative impacts for oil demand would be short-lived.

Another issue is sovereign crisis in the European periphery. Despite bailouts for Greece and Ireland, risks of contagion remain. Spain and Portugal may be the next to seek financial assistance from EU/IMF. While bailouts may not be needed, austere fiscal measures will be carried out in 2011 to reduce deficits and growth will certainly be dampened. That said, we believe Eurozone's situation will have to turn to the extreme for reversing the uptrend in the commodity markets. As long as the ECB keeps interest rates low and maintains liquidity provisions for a long period of time, the crisis should be manageable.

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