Tony Nunan
Tony Nunan
problem secret slack
It's no secret that refineries are the problem. There wouldn't be a problem if there was any slack in the system.
coming hurricane prices scary season
The scary thing is that the hurricane season is not over yet... so I don't see prices coming down.
gulf mexico output situation unclear
The situation is unclear because output is still down in the Gulf of Mexico and U.S. refineries are having problems.
crude higher imports products situation tight turnaround warm
The short-term situation in the U.S. is not good. With the refinery turnaround season, products should be tight but crude imports are higher and there is warm weather.
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.
concerns high iran plenty volatility
It has a very high volatility and, short-term, there are plenty of inventories. However, the big concerns are Iran and Nigeria.
due faces weak
We have a two-sided market, which is fundamentally weak in the short-term due to inventories but in the long-term faces all this geopolitical risk.
coming reality
I can't see why it should have rallied $2 and I think it's coming back to reality -- that the short-term fundamentals look oversupplied,
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.
arabia bring flow hopeless oil surplus
Only Saudi Arabia has surplus capacity, and if its oil flow should be disrupted, it could bring a hopeless situation.
affected question
That's the big question on everybody's mind, how much this (high prices) affected the demand.
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.