Kevin Norrish
Kevin Norrish
chinese demand exert further growth highly likely looks oil pressure slow supply
After such a slow 2005 for Chinese oil demand an acceleration in growth looks highly likely in 2006 and this will exert further pressure on oil supply and prices.
continue currently external iran key major matters oil prices relations remain risk situation upside wild
Iran matters more than is currently priced in and Iran's external relations remain the key wild card. We continue to see the situation as representing the major upside risk for oil prices this year.
crack current cut front gasoline message month sending strong weakness
The current weakness in the front month gasoline crack spreads is unprecedented and is sending a strong message to refiners about the need to sharply cut production.
crack current cut front message month petrol sending strong weakness
The current weakness in front month petrol crack spreads is unprecedented and is sending a very strong message to refiners about the need to sharply cut production.
appears attention both buying catalyst cold drawing forecast fuel higher interest likelihood markets move release sides weather winter
The catalyst for the move higher appears to have been the release of a weather forecast drawing attention to the likelihood of another cold winter, prompting a surge of buying interest in winter fuel markets on both sides of the Atlantic.
both china countries crude demand energy help india issue prices seem seen stage western
India and China are big importers of crude oil, and they're both at the stage of their development where they're energy intensive, ... We have seen no pullback in demand in those countries, or in western countries --demand doesn't seem to be an issue that would help keep prices in check.
fairly markets production
Markets have already priced in a fairly sizeable production cut.