Kevin Norrish
Kevin Norrish
capacity fully katrina large log rather severe showing signs system top
The U.S. refinery system has been showing signs of severe tightness. The shut-in of refining capacity from Katrina is then not so much a straw, but rather a large log on top of an already fully laden camel.
concern crude disruption few market output potential stretched system tightly
There's still going to be concern about potential hurricanes in the market for a few months. Crude output and refining are so tightly stretched that you don't need a big disruption to put the system under a lot of pressure.
course currently expected fallen figures inventory iranian keeping market meeting oil potential prices release since situation wednesday worse
Oil prices have fallen since the release of worse than expected US oil inventory figures on Wednesday but the potential for the Iranian situation to worsen during the course of the IAEA meeting currently underway is keeping oil market participants wary.
attacks dominated markets oil remains sentiment
Oil markets sentiment remains dominated by the escalation of attacks in Nigeria.
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.