Tony Nunan
Tony Nunan
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.
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.
coast concerns france giving gulf increasing operations supply support
Increasing concerns over supply shortages in the U.S because of the outages at refineries in the Gulf Coast and disruptions to refinery operations in France are giving support to the market.
immediate inventory levels mild seems weather
Immediate fundamentals look bearish, ... Weather seems very mild and inventory levels are high.
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.
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.
capacity demand high within
Demand is so high and capacity is so low, we can go from comfortable to uncomfortable inventories within a month.
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.
draws gasoline market turn
If we get draws in gasoline inventories, that could turn the market around.
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.
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.
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,
market needed
It's just profit-taking, the market needed to correct.