Jim Ritterbusch
Jim Ritterbusch
crude decline extent gasoline large longer number plenty supply
Crude supply is no longer an issue. We have plenty of it. However, that crude number is being countered to some extent by the large decline in gasoline stocks.
bad bounce evidence gasoline numbers oil provide quickly
But they do provide evidence that the oil infrastructure can bounce back pretty quickly after a really bad storm. These gasoline numbers give a cushion.
draw gasoline market report slight though
This report is completely overshadowed by the storm. We did see a draw in gasoline stocks, and even though it's slight it isn't what this market needed,
analyze build easy gasoline huge number talk
It's easy to analyze this one because there is only one number to talk about. That gasoline build was just huge again.
capacity gasoline presents problem produce sufficient within
The problem with sufficient refinery capacity to produce gasoline still presents an issue, at least within the US.
appears capable declines dramatic driven gasoline increased past production prove screen seven source stocks support
A source of support to the screen appears to be indications of increased refinery maintenance that should prove capable of reversing a dramatic 23-mil bbl up-trend in gasoline stocks during the past seven weeks. Production declines should also be driven by some slippage in gasoline yields.
affect concern deficit gasoline heavy quarter schedule seeing small
We are seeing a small deficit in gasoline supplies, and there is some concern that the heavy refinery maintenance schedule set for the end of the quarter is going to affect supplies.
consumer driving eating focus gasoline high prices
High prices are eating into consumer demand, and the focus is on gasoline because of the upcoming driving season.
decline figure gasoline larger
The gasoline figure was the important number, the decline was much larger than expected.
barrels bigger bullish decline doubt draw gasoline million street
The gasoline draw is a bullish number, without doubt. The decline was much bigger than the 1.1 million barrels draw the Street was anticipating,
build crack funds gasoline larger position
The funds are really scrambling to build a larger position in the long gasoline crack spreads.
across bullish complex either gasoline given headlines lead market otherwise
The fundamentals across most of the complex are so bearish that on any given day you're either going to need to a lead from gasoline or some bullish geopolitical headlines to give this market a rally. Otherwise it's just going to sink.
drop entire feature gasoline main support
The main feature was the big gasoline drop again. That's going to support the entire complex.
additional barrels crude expected further impact imports increase million recovery stocks toward
Crude stocks should show a sizable increase as an expected further recovery in imports toward 10 million barrels a day more than negates the impact of additional refinery restarts.