David Thurtell
David Thurtell
data early market uptight
The market was disappointed about the data but I think it's way too early to get uptight about stocks.
demand gone peak prices season winter
In my view, prices had probably gone down too far, especially with peak demand winter season looming.
market news prices push shock starts supply trading vulnerable
The market is very vulnerable to a supply shock like this. This news will push up prices when trading starts tomorrow.
appear buying funds raise wanting
Funds appear to be buying the dips, still wanting to raise their allocation to commodities in their portfolios.
along demand diesel economy firm healthy helped infer looks oil price remain safe
The US economy looks healthy and it's safe to infer that the demand for oil and diesel will remain pretty firm and that the price of oil should be helped along as well.
capacity close iranian issue market oil production until
Oil production is pretty close to capacity at the moment. The market is going to be very jittery until the Iranian issue is resolved.
brave chinese companies confirmed deal deals demand player refuses
Companies will still deal with the Chinese in the future. They are big players, and it's a brave player who refuses to deal with them. But companies and brokers may demand deals be confirmed all the way up the line.
extremely numbers short stocks watch
The stocks numbers are extremely bearish. You wouldn't want to be short though. You've just got to watch what's going on with Iran.
coming disruption early large last odds raise repeat storms
Coming so early in the season, these storms raise the odds that there will be a repeat of last year's large disruption to H2 U.S. production.
drive far lingering mean political prices risks supply
The lingering political risks to supply mean we're not going to drive prices down too far or too fast.
attention demand oil pay peak people start
People will start to pay attention to peak demand looming, with heating oil a worry.
bring few imports levels seen stock year
A few more refineries going on scheduled maintenance and a tapering off on imports will bring stock levels back to that seen about a year ago.
crude damage hand main product region turning
There's been a lot of damage to refineries in the region and that's the main concern. You can have as much crude as you want on hand but if you've got no way of turning it into product you do have a problem.
asian below bit buying demand ease goes hurricane likely november oil runs season though woods
Oil could ease back a bit today, though the hurricane season runs into November so we're not out of the woods yet. Asian demand is still pretty strong, so we're likely to see some buying if it goes much below $60.