Tony Nunan
Tony Nunan
above expect high inventory levels market prices stock unless warmer weighed
Even if there is a stock draw, unless it is substantially and unexpectedly high, I would not expect prices to go up above $60 as the near-term market is still heavily weighed down by high inventory levels and the warmer weather.
example expected market recovery widely
Bearish (data) is widely expected and the market has already factored it in. But if it should show a recovery in demand, for example in gasoline, the market may rebound.
draws gasoline market turn
If we get draws in gasoline inventories, that could turn the market around.
everybody looks market stocks watching
It looks like the market just doesn't want to go down. I think everybody is going to be watching stocks today.
market needed
It's just profit-taking, the market needed to correct.
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.
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.
bit came market relaxed tension
However, tension has relaxed a bit and the market came off.
market
The geopolitical tensions are still there, but the market is getting desensitized to it.
cautious market pauses
The market pauses here because everyone is very cautious about new data,
bullish crude market short term terribly
The market is not terribly bullish in the short term because crude inventories are still high.
bit build confused data gasoline market next people realise recent until week
The market is a bit confused because the recent data showed a big build in gasoline inventory. But I think most people will realise that it'll probably be not until next week that we see real (inventory) numbers.