David Thurtell
David Thurtell
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.
colder looks prices provided range send sixties
Provided we don't get any disruptions to supply, it looks like prices could have short-term weakness. But if we get a much colder winter, it could send prices into the sixties range again.
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.
iran question whether
It's a question of whether Iran or the U.S. blinks first.
asian gulf hurricane relief seems staying today trade
There was more relief in Asian trade today that Hurricane Wilma seems to be staying out of the way of Gulf facilities.
disruption longer parts supply worry
There's just been too much disruption to too many parts of the whole supply chain. There's a worry that it's going to take longer to get things back.
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.
agreeing deal extract iran market nuclear price situation wax
Iran will take the nuclear situation to the wire, making the market nervous. It will wax and wane diplomatically and they'll extract a price before agreeing to any deal with the west.
few gulf next prices production unlikely
Gulf production is really struggling. It's very unlikely that prices are going to come significantly under $60 in the next few months.
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.
barrels capacity half line million missing next nigerians reality time
The Nigerians indicated capacity could be back on line next week. That's could, not will, and the reality is we could be missing those half million barrels for some time yet.
atlantic barrels disruption halfway hurricane market missing unwelcome
The Ecuador barrels missing from the market are another little unwelcome disruption to supply, and we're not even halfway through the Atlantic hurricane season.
gone market oil paint scenario worst wrong
Everything's gone wrong in the oil market recently. If you wanted to paint the worst scenario picture, you couldn't do much better.
ahead below boost breathing demand forecasts giving normal oil percent reacting room supply
The market's reacting to forecasts that heating oil demand will be 20 percent below normal this week, giving refiners a little breathing room to boost supply ahead of winter.