Antoine Halff
Antoine Halff
bit plan shock sweater
If we have colder-than-normal weather, we'll see a bit of a shock to the economy, ... I plan to put a sweater on at home.
above double economy energy extremely high levels moving prices shown signs
We have an economy that has shown signs of slowing. With energy prices at extremely high levels -- and now moving above those levels -- this is kind of a double whammy,
pressure short supply term
There is no short term supply pressure in the market.
atlantic climbed crude market prices quickly ready strongly
We've climbed very quickly and strongly so prices are ready for a correction. The fundamentals haven't really changed. The crude market in the Atlantic basin is well supplied.
ahead allowed april coast depleted desired driving east ended gasoline high imports levels likely peak reach rebuilding start stocks summer time total week
While surging high imports likely allowed total U.S. gasoline stockpiles to start rebuilding in the week ended April 28, it may take time for depleted East Coast stocks to reach desired levels ahead of the peak summer driving months.
collect companies confusion government lost oil recover taxes trying
The government is trying to collect overdue taxes from oil companies to recover some lost taxes. And there is still some confusion about the government being in crisis.
energy impact katrina likely production quite
It's quite likely that the impact of Katrina on energy production will end up dwarfing that of Ivan.
attempt boldest buildings confined far heart housing office strike
It's new in the sense that this is the boldest attempt to strike at the heart of a Saudi oil-production complex. So far they had been confined to office buildings and housing units.
alternate changes days demand driving effect gasoline immediate increases late policy speed
It's late in the game. The only policy changes that would have an immediate effect would be demand restraints, such as increases in gasoline taxes, alternate driving days or enforcement of speed limits.
again appetite decision few meet price shows weeks
The decision to meet again in a few weeks shows that OPEC's price appetite is pretty robust.
address concerns including iran meeting political production risk sure tremendous trouble
There is tremendous political risk to supplies, including from OPEC producers, such as Iran or Venezuela, who have trouble meeting their production quotas, or even Nigeria. They can't address these concerns openly, but I am sure they are on everybody's mind.
bad concerns economic increase laundry list market regarding strong variety
There's a combination of strong economic statistics, an increase in geopolitical concerns regarding a variety of oil-producing countries, and bad refining news, and the market has been very spooked. It's a long laundry list of problems.
adjustment came impact less market physical release sent sources
Overall, I think it sent the right message. But at the end of the day, the physical impact of the IEA release was much less than you would have expected. A lot of the market adjustment came from other sources than IEA countries.
activity caused damage deferred depressed huge imports last storms time year
Refinery activity has been very depressed because of damage caused by hurricanes last year and deferred maintenance. There was a huge surge in imports after last year's storms but that has ended. At the same time refinery activity has not recovered.