Jim Steel
Jim Steel
cold inventory numbers prices send supportive weather
We're down because the inventory numbers weren't particularly supportive and above-normal temperatures are in the forecast. You need cold weather to send prices higher.
circumstance incredibly inventory lower numbers point prices send
The fundamentals point to lower prices. These inventory numbers are incredibly bearish and under other circumstances would send prices substantially lower.
adequate both concern crude eye keeping nigeria oil physical political situation supply
There's adequate supply of both crude oil and products. We are keeping an eye on the festering situation in Nigeria and concern about Iran. The physical availability is outweighing the political concern today.
affect chance prices production remain slight storm strong
Prices will remain strong as long as there is even a slight chance that the storm will affect production in the Gulf.
games love
At some point, we'd love to get all our games on TV.
action attention available iran market oil war
We've had a tug of war between fundamentals and geopolitical worries. It doesn't look like Iran will take any action soon, so the attention of the market is tilting to the inventories. There's a surfeit of oil available on the world market.
demand examining fall gasoline good increased led oil prices seems shift time worries
There's a pre-season shift to examining gasoline because heating oil worries have subsided. Demand is pretty good for this time of year. The fall in prices seems to have led to increased consumption.
closed half longer normally quickly running week
Some refineries have made repairs quickly and will be running normally in a week or two. About half of the refineries that closed will take a lot longer to get back on line.
both concerns crude fading prices products seem supported
Inventories of both crude and the products are overwhelming the market. Geopolitical concerns have supported prices but they seem to be fading into the background.