Michael Fitzpatrick
Michael Fitzpatrick
Singer best known as the frontman for the soul-pop band Fitz and the Tantrums. The band's debut LP, Pickin' Up the Pieces, hit number one on the Billboard Heatseekers chart in 2010.
ProfessionSoul Singer
Date of Birth21 July 1970
CityMontlucon, France
crude dichotomy economic high market path political price remains resistance structural until
The real dichotomy in this market is that crude inventories are very high and that could make for some violent, back-and-forth price action. For the foreseeable future, the path of least resistance remains up until there is a significant structural economic or political shift.
across arrive builds continue crude expecting high imports raise
I'm expecting builds across the board. Imports should continue to arrive at a high rate, which will raise crude stocks, and refineries continue to return, which should do the same for the products.
continuing crude demand mild oil products send soon test weather
The mild weather and contracting demand are continuing to send us lower. Crude oil will soon test $56 and the products $1.50.
adequate close crude demand eventually fall greatest justify oil supplies time
Crude oil will have to fall eventually because supplies are adequate and demand is not the greatest for this time of year. You can't justify crude oil at close to $60.
apparent consensus crude held
Crude is being held back by the apparent consensus that OPEC will keep pumping.
against buffer crude due flow giving high imports market potential recent steady supply thick
Crude inventories are at extraordinarily high levels, due in part to a steady flow of imports in recent months, giving the market a thick buffer against potential supply disruptions.
crude current oil perception slide thus
The current perception is that there is enough crude and heating oil around, thus the slide in prices.
focus focused fourth shift supply today versus
We shift back and fourth between a focus on supply versus the world situation. Today we are focused on supply because of tomorrow's report.
cut driving heat lead oil soon
Repairs are proceeding apace. Discretionary driving can be cut back but you have got to heat your house. Heating oil will soon lead the market.
absent dispute high moderate moving nuclear prices program relatively supplies week
Relatively moderate weather, ample supplies and an escalation in the dispute over Iran's nuclear program should make for another week of high volatility. Absent geopolitical uncertainty, prices should be moving lower.
apparently growing prices seriously turn
It is apparently going to take more than growing inventories to turn prices seriously lower.
ate began hot large last reserves soon summer surplus thereafter unusually year
Last year began with a large surplus but an unusually hot summer ate up those reserves and soon thereafter the hurricanes hit. There is still some infrastructure that was damaged, which could be a problem.
cold cool ending late prevent season snap spring stocks storage whittle
While a late-winter cold snap or cool spring could whittle down some of the storage surplus, it is probably too late to prevent stocks from ending the heating season at record-high levels.
brought conditions higher levels move numbers pattern report resume until waiting
We are in a waiting pattern until the numbers are released. The conditions that brought us to these levels remain, so we may resume our move higher once the report is digested.