To them, the emerging tableau of rising demand, tight inventories and instability in some key producing countries is disturbingly familiar.

His cautious case for commodities comes from low prices, tight inventories, reviving demand, new markets in developing nations and investors' assumption that inflation is dead.

Mr. Stefanoni and other real estate experts said the state's tight inventory of available housing remains the dominant factor affecting the market.

The big rise in car prices paid by dealers, seven-tenths of a percent, seems to reflect strong sales and tight inventories.

While each of these retailers had something going for it last quarter, each also clearly benefited from tight inventory and expense controls during the fourth quarter.

Mr. Barakat said the American oil price was higher than normal relative to world prices because of tight inventories in parts of the country.

It seems as though tight inventory and rising prices have started to place some friction into the market.

Indeed, this year many stores are carrying tight inventories, hoping to reduce the need to take pre-Christmas markdowns if stock isn't moving fast enough.

Recent history, however, has demonstrated that tight inventories do not guarantee against panic sales.

With tight inventories, Dell could squeeze out more of a cost advantage as prices on components drop.