Frederic Lasserre
Frederic Lasserre
action afford calling countries currency cut drive economies exports foreign hurt percent prices represents seriously tehran
Even if Tehran can not afford to cut for long its exports of crude, which represents 80 percent of its foreign currency earnings, such an action would drive up prices and seriously hurt the economies of those countries which are calling for sanctions.
added barrel council dollars iranian matter perspective price security situation three
The Iranian situation and the perspective of the matter going to the Security Council have added three dollars to the price of a barrel of oil.
fearing market might serious
The market is still fearing that we might see some more serious hurricanes down the road,
bullish coming disappear expected facilities lending longer might news originally production recover slight tone weekend
News coming in over the weekend that some production facilities might take longer to recover than originally expected is lending a slight bullish tone to the market, but this may disappear during the day,
average impact massive oil percent refined
More than 50 percent on average of all these indexes is in oil and refined products. It's having a massive impact on the markets.
believe both december level month peak terms
We believe that the peak is near, both in terms of level and timing. This should be between now and the month of December and be located between $55 and $60 for NYMEX crude,
builds current cut despite difficult justify production second stock
We should see stock builds in the second quarter, but despite this, it's very difficult to justify a production cut at current prices.