Kevin Norrish
Kevin Norrish
consumers dependence dispute edge emphasize energy european gas immediate impact issue potential prices russian served supplies western whilst
Whilst the immediate impact on European energy prices has been negligible, the dispute has served to emphasize the dependence of Western Europe on Russian gas supplies and the issue has the potential to keep European gas consumers on edge for some time.
foreign four held helping hostage news nigerian oil prices released workers
News that four foreign oil workers held hostage by Nigerian militants have been released (was) helping prices to ease back a bit.
above chaos continue expect floor further issue major nigeria potential prices provide supply terms
We would expect the potential for further chaos in Nigeria to provide a floor for prices above $60, and we expect that Nigeria will continue to be a major issue in terms of supply security.
crude move prices summer supports view
This supports our view that crude prices will soften as we move through the summer months.
acceptable available coming crude further lower market members oil plenty present prices stage support tests
With plenty of crude oil available to the market at present and some OPEC members signaling that lower oil prices may be acceptable to the group, the stage may well be set for further tests of support over the coming weeks.
dramatic explosive increase oil prices rise seen spread
It's because we've had such an explosive rise in heating oil prices -- I don't think we've ever seen such a dramatic increase in the spread between heating oil and crude.
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.
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.
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.
absolute consumed energy fall fossil fuels share
The share of fossil fuels (in China's energy use) may fall but the absolute amounts consumed will grow.
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.
across basis builds expecting looks market people potential product reaction strength
People were expecting builds across the board. On that basis the market reaction that we have had is not surprising...It looks like product strength has the potential to return.
increase necessary order production question view whether
One question would be whether it would be necessary for an increase in production in order to make up for Nigeria. I have a feeling, they probably view that as a bonus.
concern crude extremely global inventory levels low obvious oil particular product sign
With global inventory still at extremely low levels and particular concern over low product and crude oil inventory in the U.S., there is little obvious sign of any significant weakness.