Gerard Burg
Gerard Burg
gas meet natural oil pressure prices push shift supply
We should see pressure to shift to heating oil if natural gas supply can't meet demand, and the shift to distillates will push prices up further.
assets commodity expected funds increase pension recent returns
With commodity returns outperforming other assets in recent years, pension and hedge funds are expected to increase investments in commodity markets.
damage due path pressure rita spared tight
The path of Rita really spared most of the damage to refineries that was the concern. There's still a lot of pressure on the market, particularly due to tight capacity.
capacity demand expect next squeeze strong
We've still got a capacity squeeze from that area. Demand has been very strong short-term and we expect it will be strong next year.
demand europe likely oil rise
It is likely that we are going to see demand for heating oil rise in Europe as end-users look for alternatives to gas.
contract market reports time
Reports of market tightness at the time of settlement play into contract prices.
base below falling forecast metal outcome prices result
Such an outcome would result in base metal prices falling well below our forecast levels.
area capacity element given lack market oil panic solid surprising worldwide
That area is solid with refining capacity. There's an element of panic in the market but that's not surprising given the lack of capacity worldwide at every level, refineries and oil wells.
certainly damage early katrina
We're now in wait-and-see mode, ... There was a pull-back after Katrina went through, but early indicators are certainly that some damage has been done.
barrier easily extent full given next question weeks
We're now in wait-and-see mode. It could be weeks before we know the full extent (of damage), but given how easily $70 was reached, it's not out of the question that $80 could be the next barrier if there's long-term damage.
copper couple deficit last market mines opinion people seen thinking weeks whether
What we've seen over the last couple of weeks with disruptions at copper mines has narrowed the opinion of whether the market is going to be in deficit or surplus. More and more people are thinking it's going to be in deficit this year.
calling continues last
For the last two years everyone's been calling the peak, and everyone's been calling it down, but it just continues to go on.
action impact market mention mere military prices sends true
The market is not really factoring in the true impact of military action but the mere mention of it sends prices higher.
almost barrels crude figures gasoline million people upside within
The crude figures were pretty bearish. Crude going up by almost 5 million barrels was more than people were expecting. Gasoline was broadly within expectations so there was little upside from that.