Marshall Steeves
Marshall Steeves
expecting people product
It's positioning before the EIA survey, where most people are expecting a build, especially on the product side.
damage extent full hurricane people quite several strength time took weeks worried worse
After Hurricane Ivan, it took several weeks to know the full extent of the damage to seabed pipelines. Some people are quite worried that this time could be worse because of the strength of Katrina.
changes damaging direct energy hit houston interests less market people therefore thinking
The market is so hyper-sensitive to changes in the storm. The thinking is it will be less of a direct hit on Houston and therefore less damaging to energy interests and that was enough for people to take some profits.
draw gasoline given interest oil size
The size of the distillate draw wasn't spectacular but is disconcerting given that we are approaching the heating season. Heating oil is ascendant right now, while interest in gasoline wanes.
brief hopefully likely spike
There will likely be a brief (post-hurricane) spike as with Katrina. Hopefully it will not be prolonged.
draw given imports size stocks surprising
There was a larger-than-expected draw in crude-oil stocks and imports fell, which was surprising given that ports had reopened. The size of the distillate draw wasn't spectacular but is disconcerting given that we are approaching the heating season.
companies extent full knows nobody oil personnel survey until worse
Nobody knows the full extent of the damage. The speculation is that it will be worse than Ivan, but we won't really know for days, until oil companies get personnel out there and survey the damage.
companies extent full knows nobody oil personnel survey until worse
Nobody knows the full extent of the damage, ... The speculation is that it will be worse than Ivan, but we won't really know for days, until oil companies get personnel out there and survey the damage.
becomes economical industrial larger leg lower natural users
With each leg lower in natural gas, it becomes that much more economical for larger industrial users to come back to natural gas.
crude deficit good news oil sale
The good news is that with the 30 million-barrel sale of SPR oil, I don't think we will have much of a deficit in crude oil production.
bit feeling gave news settled sons traders
The news that Saddam's sons may have been killed gave traders a feeling that things would be a little bit more settled in that nation.
above crude supplies
Even with the crude draw, we still have a lot of it with supplies still above normal.
concerned concerns eventually far turn
Eventually we'll turn around on geopolitical concerns about Iran, but as far as the inventories are concerned it's pretty bearish.
arctic december evidence incredible pattern weather
It's a weather story. After experiencing an incredible Arctic weather pattern in most of December there is now evidence of a warm-up after Christmas.