David Thurtell
David Thurtell
colder looks prices provided range send sixties
Provided we don't get any disruptions to supply, it looks like prices could have short-term weakness. But if we get a much colder winter, it could send prices into the sixties range again.
case facilities impact kicking looks man
It looks like she could have an impact on facilities that were untouched by Katrina, and while we don't really know where she will go at present, it really is a case of kicking a man while he's down.
bigger closed damage drove gasoline higher looks main plants prices problems reasons rita
It looks now as if Rita is not going to go through the main refinery region. Because all these plants have closed for precautionary reasons there have been problems with gasoline supply, which drove prices higher yesterday. Still, it looks as if there's not going to be so much damage to the bigger refining sites.
amount french hurricane looks production remains season strikes
It looks encouraging that some of the French strikes are ending, but the hurricane season is not over yet and a significant amount of U.S. production remains shut.
along demand diesel economy firm healthy helped infer looks oil price remain safe
The US economy looks healthy and it's safe to infer that the demand for oil and diesel will remain pretty firm and that the price of oil should be helped along as well.
extremely numbers short stocks watch
The stocks numbers are extremely bearish. You wouldn't want to be short though. You've just got to watch what's going on with Iran.
deal demand hemisphere northern prices rebound worry
The worry is that if prices come off a bit, demand will rebound and we've still got to deal with the Northern Hemisphere winter.
gone market oil paint scenario worst wrong
Everything's gone wrong in the oil market recently. If you wanted to paint the worst scenario picture, you couldn't do much better.
disruption longer parts supply worry
There's just been too much disruption to too many parts of the whole supply chain. There's a worry that it's going to take longer to get things back.
further prevent price rises
(That's) the only thing that will prevent further significant price rises from here.
calmed literally release reserves strategic weathered
Literally and figuratively, I think we've weathered the storm, as the release of strategic reserves has calmed the market.
few gulf next prices production unlikely
Gulf production is really struggling. It's very unlikely that prices are going to come significantly under $60 in the next few months.
barrels destroy good help higher increase language longer million prices recognizes short term
From his language he recognizes that while higher prices are good for revenues in the short run, longer term they help destroy demand. OPEC is probably going to increase by 1 million barrels a day.
appear buying funds raise wanting
Funds appear to be buying the dips, still wanting to raise their allocation to commodities in their portfolios.