Gerard Burg
Gerard Burg
capacity demand expect next squeeze strong
We've still got a capacity squeeze from that area. Demand has been very strong short-term and we expect it will be strong next year.
bubbling resolve view
Then there's Nigeria, also bubbling along, and no short-term view that things there will resolve themselves.
extent flooding limited replace sort stocks
If there's significant damage, and flooding persists, then there's every possibility that these refineries could be out for that sort of time. There's a limited extent to which stocks can replace refining production.
barrier easily extent full given next question weeks
We're now in wait-and-see mode. It could be weeks before we know the full extent (of damage), but given how easily $70 was reached, it's not out of the question that $80 could be the next barrier if there's long-term damage.
adds caused decline fears fresh greener likely market stock switch
With this week's stock announcement likely to show a fresh decline in gasoline, it adds to market fears caused by the switch to greener fuels.