Jason Schenker
Jason Schenker
bull continue crude declines disruption full inventory massive oil premium prices relentless run supply winter
Massive inventory declines in crude oil are part of a three-month trend, heating oil prices continue their relentless rise, and the supply disruption premium is in full effect. This may only be the beginning; the winter oil bull run has begun.
category continue count increase rest seen volatile
That's a very volatile category. We can't necessarily count on the increase we've seen in that category to continue the rest of the year.
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We're likely to see prices continue to trend upward. The biggest potential to push prices down is going to be an increase in supply, but right now supplies look pretty fixed.
continued domestic employment fuel further gains gross growth higher home interest mitigate product sales slowing solid strong
Strong continued gross domestic product growth and solid employment gains should fuel further home sales and may mitigate some of the slowing engendered by higher interest rates.
continued economic growth huge inflation likely next week
Next week is a huge week for data, and it is likely to show continued economic growth and inflation well under control.
apply continues decline downward imports iranian manifest next notion petroleum prices relatively remains rise situation week
If the rise in imports and utilization manifest this week continues next week, it could apply some downward pressure. Of course, any decline in petroleum prices would be predicated on the notion that the Iranian geopolitical situation remains relatively quiet.
hit hitting next today whether
Whether we hit it today or next week, I don't really think hitting $50 is going to give us a downturn.
affected august economy initially numbers perhaps revision seeing shows stronger
What we're seeing is a lot stronger numbers than were anticipated, also with an upward revision in August and July. All of this bodes well for the economy and shows perhaps the economy was not as severely affected by the hurricanes as initially anticipated.
deficit economic energy gasoline goes growth hard medium national regional retail short wherever
With the year-on-year deficit in gasoline and with economic growth it is hard to be bearish about energy in the short or medium term. The manufacturing and retail numbers, the regional and national numbers, wherever you look they are positive. The same goes for overseas.
bottom determine energy inventory numbers question range seeing trading weather whether
We're seeing range trading in all of the energy contracts. The big question is whether this is the bottom or if we will go lower. In the short-term the inventory numbers and the weather will determine what we do.
across builds changing healthy major pressure
There are nice, healthy builds across the board, even in distillates. Barring a major geopolitical disruption, or things changing with OPEC, there will be pressure to the downside.
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The crack spread of gasoline has collapsed, and only an escalation of Iranian tensions could buttress crude at this level.
actual draws expected large numbers regardless seeing
Regardless of how large the draws are expected to be, especially in gasoline, seeing the actual numbers will be a shock.
affect caught markets trade
Markets were caught off-guard by a blow-out trade deficit, ... This could affect growth.