Jan Stuart
Jan Stuart
barrel floor last oil rising underneath worried year
There has been a rising floor underneath oil prices, ... Last year we were worried about $40 a barrel oil, and now $60 a barrel is the worry.
closer crude data ended expect given levels oil
We were up on heating oil in the morning, but ended the day down closer to the levels some would expect given the data (on crude supplies),
largest lead lower obvious offering prices
It's patently obvious that the Saudis, as the world's largest producer, could lead prices lower by offering lower prices,
clear data demand flying high normal places slow start terms time year
Data are slow to arrive, as is normal at this time on the calendar, but already it is clear that this year is not off to a flying start in terms of demand growth. Inventories are high in many places as well.
blowing card certainly hitting hurricane room wild year
The big wild card this year is that there's little to no room for anything to go wrong. And certainly nothing like a refinery blowing up or a hurricane hitting the coast.
across barrel bow intervene markets oil seems sensitive shot signals small volumes willing
It's an important shot across the bow of oil markets because it signals the administration is willing to intervene in the market. The volumes are small but $75 a barrel seems to have triggered a sensitive point.
beginning bottom finally line overall stocks
The bottom line is that the overall stocks are huge. But the tightening in stockpiles is finally beginning.
diesel easy issue low
This is a big issue - ultra low sulfur diesel is really easy to contaminate.
deciding easy leave meeting ministers setting time vigilance wednesday worries
OPEC ministers meeting in Vienna on Wednesday should have an easy time deciding to leave well enough alone, while emphasizing worries and vigilance and setting another meeting date.
bullish entire gasoline number single
Gasoline demand, I think, is the single most bullish number in the entire (EIA) report,
calm trying
(The group) is trying to calm the market.
demand numbers
This is all-around bearish. Demand numbers were so-so and import numbers were big,