Tony Nunan
Tony Nunan
crazy draws market prices strong week
It's a crazy market. Prices look strong one week because of the draws (declines) in gasoline. If we get another big draw this week, the market will be even stronger.
damage extensive unknown
It is unknown how extensive the damage to the refineries is.
caught concerned cutting impact seriously traders
Traders are now more concerned about the psychological impact of the hurricanes that has seriously caught American consumers, cutting back on consumption.
colder concerned crude middle northeast people seems though view
Though there seems to be a lot of crude around, the long-term view is bullish. The U.S. Northeast will get colder and people may be concerned with middle distillate supplies.
colder concerned crude middle northeast people seems though view
Though there seems to be a lot of crude around, the long-term view is bullish, ... The U.S. Northeast will get colder and people may be concerned with middle distillate supplies.
capacity demand high within
Demand is so high and capacity is so low, we can go from comfortable to uncomfortable inventories within a month.
equipped handle last market prices slack
Last time, the market could handle uncertainty as there was a lot of slack but now because prices are so high, the market is not equipped to handle unplanned events.
market overall picture
Overall big picture is the market is still strong,
market prices signs statistics test wants
If statistics show any signs of bullishness, prices will go higher. Technically, the market wants to test $65 a barrel.
further high nigeria seen
There is a high probability of further disruptions in Nigeria as we haven't seen the end of the attacks.
again basis concerned demand reduced seeing september shown slower statistics traders
Statistics have shown demand was reduced on a year-on-year basis in September and October. Traders are concerned that they may end up seeing slower demand again in November.
bit came market relaxed tension
However, tension has relaxed a bit and the market came off.
edge far game iran playing pulling pushing smart
Iran is playing a smart game of brinkmanship, they are pushing as far into the edge as they can take this and then pulling back.
market
The geopolitical tensions are still there, but the market is getting desensitized to it.