Joseph Allman
Joseph Allman
attack crude gained giving hold iraq large last led market media week
Crude gained a lot last week and we are giving some of that back. The U.S. led a large attack in Iraq last week, one that wasn't unprecedented, but the media got a hold of it and the market reacted.
clear closer crude few gas gasoline longer looked market natural oil stocks supplies supply tight weeks winter
It's clear that supplies of crude oil and natural gas are more than adequate. The gasoline supply looked pretty tight a few weeks ago but the market responded and that's no longer the case. We are also getting closer to the end of winter and it's clear gas and heating-oil stocks will be sufficient.
gas natural surplus
We have a surplus of natural gas in inventories.
above commodity continue course good growing inventory production projects
Of course it's benefited from commodity prices, but it's growing organically well above average. They have a good inventory of projects to continue this above-average production growth.
below country fall increase later output parts year
We still have a refining issue. Refineries in other parts of the country have been able to increase output but they will have to go down later this year for maintenance. Refinery output will then fall below normal.
concerns market might oil supplies thinks
Oil is being propped up by all the concerns that supplies will be interrupted. As long as the market thinks it's possible, we might see some more increases.