Jason Schenker
Jason Schenker
crack crude gasoline iranian spread
The crack spread of gasoline has collapsed, and only an escalation of Iranian tensions could buttress crude at this level.
hit hitting next today whether
Whether we hit it today or next week, I don't really think hitting $50 is going to give us a downturn.
affected august economy initially numbers perhaps revision seeing shows stronger
What we're seeing is a lot stronger numbers than were anticipated, also with an upward revision in August and July. All of this bodes well for the economy and shows perhaps the economy was not as severely affected by the hurricanes as initially anticipated.
across builds changing healthy major pressure
There are nice, healthy builds across the board, even in distillates. Barring a major geopolitical disruption, or things changing with OPEC, there will be pressure to the downside.
economic general growth jobs looking positive solid
We're looking at some positive expansion, solid growth in jobs and in general economic growth, and that's something we see continuing.
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With the year-on-year deficit in gasoline and with economic growth it is hard to be bearish about energy in the short or medium term. The manufacturing and retail numbers, the regional and national numbers, wherever you look they are positive. The same goes for overseas.
bottom determine energy inventory numbers question range seeing trading weather whether
We're seeing range trading in all of the energy contracts. The big question is whether this is the bottom or if we will go lower. In the short-term the inventory numbers and the weather will determine what we do.
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You've got (U.S.) supplies coming from a lot of places: more imports, more refinery capacity and more production from the Gulf of Mexico, and that's pulling down prices in the short term.
disruption issue number physical premium supply
The supply disruption premium has overwhelmed fundamental physical supply in the marketplace as issue number one.
declining employment orders performed prices sector service
The service sector performed well, with new orders rising, prices declining and employment inching up.