Marshall Steeves
Marshall Steeves
active facilities katrina looking planned season turnaround upgrade
We are looking to an active turnaround season because of all of the deferrals from the fall. Refineries that planned to upgrade facilities put them off because of Hurricanes Katrina and Rita.
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.
expecting people product
It's positioning before the EIA survey, where most people are expecting a build, especially on the product side.
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.
bit might offshore production quickly
There is a little bit of uncertainty on how quickly offshore production might come back online.