Francisco Blanch
Francisco Blanch
attacks concern factor given importance prices
The attacks are a concern given Nigeria's importance as an oil-producing nation. It's a factor that will keep prices supported.
believe demand mostly price recent response shift
We believe the recent demand pullback is mostly a short-run response to a price spike, not a long-run shift in consumption patterns.
believe close economy fund looking managers people point surprising
I think people are still looking to get into commodities and it is surprising as many fund managers believe we are close to the point where the economy is going to be harmed.
buy conserve efforts four gasoline government next people seen telling three wait
Four refineries may come back in the next two or three weeks. For another three or four refineries at least, we will probably have to wait for more than a month. We have seen some efforts by the U.S. government telling people not to buy gasoline if they don't need it, to conserve energy.
believe capacity coming complex continue existing extremely high large market petroleum price products simply stay storage volatility
Simply put, the U.S. petroleum products market has become too large and too complex for the existing storage capacity base. As a result, we continue to believe that petroleum product price volatility will stay extremely high in the coming months.
april capacity coming deepest early late next season stream week
We've had the deepest refinery season in a very long time. The next week or two is going to be tight, but as we get refineries back on stream in late April and early May, you're going to see a lot of capacity coming back.
agree bit build capacity demand fall growth higher pressed prices production warm winter year
It's been a very warm winter in the U.S., so prices are pressed to fall as inventories build and demand slows down. I agree that growth in production capacity this year will be a bit higher than demand growth.
investing ways
There are better ways of investing in commodities than the indexes.
course cushion demand few gone high inventory levels market months problems providing relatively rising situation structural
The relatively high inventory levels are providing some cushion to the market, but of course demand is rising in the U.S.. We are in a more comfortable situation than a few months ago, but the structural problems this market has haven't gone away.
agree bit capacity demand growth higher production supply tends terms year
I agree that growth in production capacity this year will be a bit higher than demand growth. Still, the IEA always tends to be over-optimistic in terms of non-OPEC supply growth.
atlantic both cold competition gets november period sides spain winter
Once it gets really cold, you have both sides of the Atlantic bidding for the same gas. This winter we had a very cold period in November and December, and there was a lot of competition between the U.K., Spain and the U.S.
believe crude fuel gasoline global high levels period prices prolonged reflecting remain rise sharp
After the sharp rise in gasoline prices, we believe that crude and transportation fuel prices will remain at historically high levels for a prolonged period of time, reflecting a tighter global balance.
demand party positive supply
I don't think the party is over. You still have positive demand and supply constraints.
bad decision looks oil sell shares
In hindsight, the decision to sell oil shares looks like a bad one.