Gerard Burg
Gerard Burg
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.
capacity crude ease expanding expected exporting higher intention likely maintain oil petroleum prices strength support
Prices are expected to ease in 2007 as expanding refinery capacity reduces some of the bottleneck in that sector. However, the likely strength of oil demand, as well as the Organization of Petroleum Exporting Countries' intention to support higher prices will maintain crude oil prices at historically high levels.
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.
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.
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.
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.
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.
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.
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.