David Thurtell
David Thurtell
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.
capacity crude missing refine seems suffering
It seems that crude is suffering because there's little capacity to refine crude. We are missing so much refining capacity now.
flows hard rest
It's not hard to imagine, you know, that there could be safe-haven flows for the rest of the week.
absorb capacity cut iranians loss supply
The Iranians shouldn't be underestimated. If they were to cut supply in protest, there's really not enough capacity to absorb the loss of their exports.
iranians taking
The Iranians are taking this right down to the wire.
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.
council eyes happens next outcome report security waiting
All eyes are still waiting to see what happens with Iran, and what the outcome will be when the IAEA makes its report to the U.N. Security Council next month.
demand high oil overall prices scheme supply vulnerable worries
There are worries about demand going forward, but in the overall scheme of things, oil prices are still exceptionally high and are still vulnerable to supply hitches.