Gerard Burg
Gerard Burg
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.
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.
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.
appears city coming energy few further increases line main next positive rise texas
The big positive there was that refinery utilization appears to be on the rise now. The main one coming back on line was the BP Texas City refinery, so with that one coming back we should see further increases over the next few weeks.
coming funds pension
The big increase...is the pension funds that have been coming in.
again bit gasoline providing support
Again it's the story of gasoline inventories ... providing a bit more support for prices.
current given high lack prices revision support volatility
The upward revision in prices is made tentatively given the lack of fundamental support for current high prices and the traditional volatility of speculative funds.
among consensus crude direction oil opposite taken view
Crude inventories went in the opposite direction to the consensus view among analysts. That's taken crude oil up a little higher.
bit came continuing high prices pushed question rise surprised whether year
We see prices continuing to rise during the year but the real question is whether we have pushed up a bit too high with speculative interests. I wouldn't be surprised if it came off a little.
assess attention attracting continue damage drive prices production storms threat
While we continue to assess the damage from Katrina, the threat to production of new storms is attracting everybody's attention and could drive prices right back up.
build capacity maximum past usual warmer weather
With refineries ramping up at maximum capacity and with the weather having been warmer than usual over the past two weeks, the build was not that much of a surprise.
barometer conditions copper fall market perceived prices remove support therefore
Copper is often perceived to be the barometer for market conditions and therefore a significant fall in copper prices could remove speculative support from other metals.