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.
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.
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.
bit cold driving easily hit lull peak period push season snap suddenly summer winter
All we need is a bit of a cold snap and suddenly it could easily push back up. We're still in that lull period where the summer driving season is over but we haven't hit peak winter demand.
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.
expecting focus jump later market pushed stocks
The market is expecting another significant jump in U.S. stocks later today, and this focus has pushed geopolitical uncertainties off to the side, for now at least.
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.
falling high main prices reason united
The main reason that prices are falling now is that demand, especially in the United States, has been impacted by high prices.
flows hard rest
It's not hard to imagine, you know, that there could be safe-haven flows for the rest of the week.
came surprise
It was no surprise that OPEC came out and said 'no change' to supply.
caught cut expect high hurricane inventory money next normally prices saying six trying
Refiners don't want to get caught out in the next six months, with the hurricane season, Iran, etcetera. Where you'd normally expect at these high prices refiners trying to cut down on stocks, I think they're saying there's big money to be made if you've still got inventory when the hurricanes hit.
bit data difficult numbers overdone stocks
I think this demand-destruction idea is being a bit overdone at the moment. The stocks numbers were very bearish, but I think that it's still difficult to read through a lot of this data noise.
bit falling pressure rising start stocks stop suspect time
Rising U.S. (crude) stocks could put a bit of pressure on prices, but I suspect we are at the time when stocks will stop rising and will start falling soon.