David Thurtell
David Thurtell
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.
came surprise
It was no surprise that OPEC came out and said 'no change' to supply.
capacity close iranian issue market oil production until
Oil production is pretty close to capacity at the moment. The market is going to be very jittery until the Iranian issue is resolved.
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.
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.
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.
bring few imports levels seen stock year
A few more refineries going on scheduled maintenance and a tapering off on imports will bring stock levels back to that seen about a year ago.
asian below bit buying demand ease goes hurricane likely november oil runs season though woods
Oil could ease back a bit today, though the hurricane season runs into November so we're not out of the woods yet. Asian demand is still pretty strong, so we're likely to see some buying if it goes much below $60.
brave chinese companies confirmed deal deals demand player refuses
Companies will still deal with the Chinese in the future. They are big players, and it's a brave player who refuses to deal with them. But companies and brokers may demand deals be confirmed all the way up the line.
coming disruption early large last odds raise repeat storms
Coming so early in the season, these storms raise the odds that there will be a repeat of last year's large disruption to H2 U.S. production.
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.
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.
absolutely decent drop rain
If we could get a decent drop of rain everything would be absolutely humdinger.