Tim Evans
Tim Evans
april covering crude draw last oil short since surprise total trigger weekly
Crude oil may have been able to trigger short covering off the surprise 1.3 million-barrel draw from last week, but inventories are still at their second-highest weekly total since April 1999.
both bush higher longer oil prices quo results short somewhat status term
A Bush status quo results in somewhat higher oil prices both in the short and the longer term in my view,
airline building chances companies denigrate easily far interested investors margin oil richard succeeding superior tend themselves
The oil companies themselves aren't interested in building new refineries and will tend to denigrate the chances of any new investors actually succeeding in their business. They'll say, 'What does Richard Branson know about oil refineries?' He doesn't have to know about that part of the business, but he can easily see that oil refiners are making a margin far superior to what he's making in the airline business.
attempting clear crude market move oil
It is pretty clear they were attempting to move this oil into a crude oil market where there was already a surplus.
attractive becomes both commodity emerging focus general gold less lows markets near oil since surrogate
Really, we've had some focus (on oil) since mid-February, when both markets made a significant low, and both markets had a near retest of those lows on Wednesday. Oil is emerging as the focus for the gold market as a surrogate for general commodity inflation. Without that kind of commodity inflation, then gold becomes a less attractive investment.
drained market means oil petroleum short strategic
In the short run, it means more oil drained from the market into the Strategic Petroleum Reserve.
crude desire hold lack limit material oil reflects start stocks sure trend
I'm not sure this is the start of a new trend in crude oil stocks and it probably reflects more of a desire on the part of refiners to limit the material they hold than it does a lack of supply,
brought gas natural oil trends warming
Heating oil and natural gas are...faced with significant warming trends that have brought an abrupt end to the heating season.
barrels french includes less looking next oil per talking timeline
If you're talking about a 400,000 barrels per day refinery next to a French Chateau in the Loire valley, the timeline is infinite. If you're looking at an industrialized part that already includes an oil refinery, it's much less of a big deal.
crude decline drop further oil stocks surprised
I'm surprised by the drop in crude stocks and the further decline in crude oil imports,
perhaps short situation
The situation is not going to get better in the short term. Perhaps it will get worse.
begin behind develop employed higher potential push simple strong term turn widely
Profit-taking was the most widely employed term for what (happened Friday), but we see the potential for this simple turn to develop into a much more substantial decline, as the fundamentals behind the push higher were not all that strong to begin with.
came dramatic range surprises within
Everything pretty much came within the range of expectations so there were no dramatic surprises here.
benefit capacity competition consumers
Consumers would benefit from more refinery capacity and more competition in the refinery business.