Jason Schenker
Jason Schenker
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.
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.
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.
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.
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.
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.
crack crude gasoline iranian spread
The crack spread of gasoline has collapsed, and only an escalation of Iranian tensions could buttress crude at this level.
affect caught markets trade
Markets were caught off-guard by a blow-out trade deficit, ... This could affect growth.
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.
It is conceivable that we could see $3 this summer.
background concern decline economic growth report supplies supporting
Supplies are pretty lush. Once this report is digested we should see a big decline in prices. The geopolitical concern and economic growth are still there in the background supporting prices.
banks financial gives help opportunity others rates report rising strong
Such a strong report by a financial institution has to help others in the same sector. Rates have been rising but gradually, which gives some banks opportunity to adjust.
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.
announced beginning decision exert impact next somewhat statements week
OPEC's statements and quota decision announced at the beginning of next week could exert a somewhat bearish impact on prices.