Gerard Burg
Gerard Burg
decisions impact key level main market obviously production steel
Obviously the main uncertainty in the steel market is the level of production from China. It's really the key uncertainty and that will impact on decisions made by steelmakers.
concerns cut events further imposed influence leaves might output potential sanctions short situation term unresolved
At least for the short term this has removed some of the concerns that we might see, first of all, some sanctions imposed and then a cut in output as a response. The situation is unresolved and this still leaves the potential for further events to influence prices.
again crude fell gasoline highlights rise strong surprising
It's not surprising crude fell after such a strong rise in gasoline stocks. Once again it highlights that the fundamentals are really pretty weak.
barrier dollars next question
It's not out of the question that 80 dollars could be the next barrier if there's long-term damage.
bubbling resolve view
Then there's Nigeria, also bubbling along, and no short-term view that things there will resolve themselves.
action again attacks bit chinese constant helping market military push rebound remain talk
It's the constant talk of attacks and military action that are heightening tensions again and helping push up prices. We should see a bit of a rebound in Chinese consumption this year. The market is going to remain very tight.
again colder drive prices situation supply supporting turn weather
Even with this weather it's not been enough to drive prices considerably lower. Once again we've got that overhanging thought that things could turn colder again and the supply situation still isn't that good. That's supporting prices where they are.
adds caused decline fears fresh greener likely market stock switch
With this week's stock announcement likely to show a fresh decline in gasoline, it adds to market fears caused by the switch to greener fuels.
continue dictate iron moves power pricing producers short supply surplus terms unlikely until
In terms of being able to dictate prices, iron ore producers will continue to have pricing power until supply moves into a surplus position, which is unlikely in the short term.
certainly forecasts last next oil picture seen stocks sufficient suggest weather week
Certainly the fundamental picture doesn't look particularly strong. Stocks in the U.S. are still very high, and while forecasts I've seen for weather for next week suggest it should be considerably colder, heating oil stocks look as if they should be sufficient to last through the winter.
extent flooding limited replace sort stocks
If there's significant damage, and flooding persists, then there's every possibility that these refineries could be out for that sort of time. There's a limited extent to which stocks can replace refining production.
bit cool impact oil prolonged spell until
There is a bit of a time-lag in all this, but a prolonged cool spell should see a real impact on heating oil stocks, which until now have been robust.
balanced causes crude damage exceed katrina last markets oil prices production push remain saw shot toward year
We saw last year just how much oil shot up after Ivan. Crude markets remain delicately balanced and if Katrina causes substantial damage to production facilities, oil prices will exceed $70 and could push toward $80 a barrel.
balanced causes crude damage exceed katrina last markets oil prices production push remain saw shot toward year
We saw last year just how much oil shot up after Ivan, ... Crude markets remain delicately balanced and if Katrina causes substantial damage to production facilities, oil prices will exceed $US70 and could push toward $US80 a barrel.