David Thurtell
David Thurtell
couple cut next prices range stay weak
I think we'll stay in a $58 to $66 range for the next couple of months. If prices get too weak OPEC, will just cut back.
agency atomic deal energy hopeful investors production strike
OPEC is set to keep production quotas unchanged... and investors are hopeful that the International Atomic Energy Agency will strike a deal with Iran.
agency atomic deal energy hopeful investors production strike unchanged
OPEC is set to keep production quotas unchanged ... and investors are hopeful that the International Atomic Energy Agency will strike a deal with Iran.
demand driving fuel hemisphere northern oil peak prices winter
Peak demand for winter fuel in the northern hemisphere is what is going to be driving oil prices in the fourth-quarter.
expect physical stocks suspect
I suspect jewelers and other fabricators probably haven't got enough stocks yet. So we can expect some more physical buying.
calmed literally release reserves strategic weathered
Literally and figuratively, I think we've weathered the storm, as the release of strategic reserves has calmed the market.
iran last nuclear oil separate warned weapon week year
While Iran said last week that it would separate nuclear and oil as issues, it was only last year that it warned that oil could be used as a weapon to get its own way on the nuclear issues.
alike both investors price profits succumbed temptation traders variety
Traders and investors alike both succumbed to the temptation to take profits in a variety of commodities that have made big price gains.
abide anyone appears australia coal countries demand global happy oil sell specific trying uranium
The demand for uranium is very strong, and countries are trying to diversify away from oil and coal which contributes to global warming. It appears Australia is happy to sell it to China, or anyone else, so long as they abide by specific guidelines.
commodity cycle demand fall improving prices supply top
We're at the top of the commodity cycle right now. Moderating demand and improving supply will see a fall in prices going forward.
available cleaner delayed fuels impact last lowest output season seen supplies work
We're at the lowest available output I've seen in maintenance season for some years. There's a cleaner fuels impact and then other work was delayed after last year's hurricanes when supplies were short.
barrels destroy good help higher increase language longer million prices recognizes short term
From his language he recognizes that while higher prices are good for revenues in the short run, longer term they help destroy demand. OPEC is probably going to increase by 1 million barrels a day.
appear buying funds raise wanting
Funds appear to be buying the dips, still wanting to raise their allocation to commodities in their portfolios.
adding demand disruption global higher oil premium prices pushed risks serious supply
Global demand has pushed oil prices to a new higher platform, and risks of serious supply disruption (Iran, Nigeria) are adding a premium to prices.