David Thurtell
David Thurtell
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.
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.
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.
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.
expect good iran iranians loss oil start stocks surprised threaten ticks
I'd be surprised if oil ticks much lower, stocks are good but you only have to have Iran start to threaten the loss of barrels. I expect the Iranians to take this to the wire.
expect iran iranians loss oil start stocks surprised threaten ticks
I'd be surprised if oil ticks much lower. Stocks are good, but you only have to have Iran start to threaten the loss of barrels. I expect the Iranians to take this to the wire.
absolutely decent drop rain
If we could get a decent drop of rain everything would be absolutely humdinger.
attention demand oil pay peak people start
People will start to pay attention to peak demand looming, with heating oil a worry.