Jason Schenker
Jason Schenker
critical cut despite disruption energy event growth haunts likely next oil quite seems slower specter supply today unlikely
OPEC is likely to be a critical event next week. A cut in production, however, seems quite unlikely despite slower fourth-quarter U.S. GDP growth out today and a well-supplied market. The specter of oil supply disruption haunts energy markets.
believe despite impact market news
Despite the news of escalation, I think the market does not believe it's going to have a real impact on supplies.
behavior changing consumer despite energy high hold relatively spending
Despite high energy prices, consumer spending will hold up relatively well. Consumer behavior is not changing a lot.
biggest consumers despite evidence fact fixed lining pay prices short
In the short run, people's consumption is essentially fixed for gasoline. The biggest evidence of this is despite the fact we've got prices at $3, $4 or $5 a gallon, we've got consumers lining up to pay for it.
decades impact minimal truth
Truth be told, by the government's own study, this would have a minimal impact on price, decades in the future.
demand gas hands lowering market natural warm weather
This warm weather is lowering demand for natural gas and heating oil. What the market does is all in the hands of the weatherman.
barrels crude extra gasoline helped natural offer petroleum pressure price problems reserve run strategic
The government's offer of barrels from the Strategic Petroleum Reserve has mitigated some of the upward price pressure on crude oil. The problems with gasoline and natural gas may not be helped even if the SPR is tapped. If refineries are offline and can't run the extra oil, it will make no difference.
awareness headlines market minor price raise recently resolved rises seen series soon
We've recently seen a series of minor conflagrations in Nigeria, which are resolved swiftly. The headlines raise awareness in the market but the price rises soon fade.
average gasoline likely pump records
With gasoline futures at records a nationwide average of $3 at the pump is likely in the near-term.
attempts energy solve year
There have been attempts this year to solve the bottleneck in the refinery part of the energy equation. That is still not resolved.
biggest concerns gas government natural refined reserve strategic
There is no strategic government reserve of natural gas or refined products, and right now the biggest concerns in the marketplace are for products.
build gas natural time
The real shocker is that there was a build of natural gas at this time of year.
bigger higher iranian leads mean oil price prices problems uncharted
If this leads to the shut-off of Iranian oil, I think it would probably mean we've got bigger problems than the price of oil. But if we end up with a 1970s-style oil embargo, we could see prices go markedly higher into uncharted territory.
crude oil pressure
mitigated some of the upward pressure on crude oil prices.