Jason Schenker
Jason Schenker
critical cut despite disruption energy event growth haunts likely next oil quite seems slower specter supply today unlikely
OPEC is likely to be a critical event next week. A cut in production, however, seems quite unlikely despite slower fourth-quarter U.S. GDP growth out today and a well-supplied market. The specter of oil supply disruption haunts energy markets.
believe despite impact market news
Despite the news of escalation, I think the market does not believe it's going to have a real impact on supplies.
behavior changing consumer despite energy high hold relatively spending
Despite high energy prices, consumer spending will hold up relatively well. Consumer behavior is not changing a lot.
biggest consumers despite evidence fact fixed lining pay prices short
In the short run, people's consumption is essentially fixed for gasoline. The biggest evidence of this is despite the fact we've got prices at $3, $4 or $5 a gallon, we've got consumers lining up to pay for it.
announced beginning decision exert impact next somewhat statements week
OPEC's statements and quota decision announced at the beginning of next week could exert a somewhat bearish impact on prices.
actual draws expected large numbers regardless seeing
Regardless of how large the draws are expected to be, especially in gasoline, seeing the actual numbers will be a shock.
crude easily hit
I think it is easily conceivable that we could see crude futures hit $70 this week.
background concern decline economic growth report supplies supporting
Supplies are pretty lush. Once this report is digested we should see a big decline in prices. The geopolitical concern and economic growth are still there in the background supporting prices.
banks financial gives help opportunity others rates report rising strong
Such a strong report by a financial institution has to help others in the same sector. Rates have been rising but gradually, which gives some banks opportunity to adjust.
affect caught markets trade
Markets were caught off-guard by a blow-out trade deficit, ... This could affect growth.
bull continue crude declines disruption full inventory massive oil premium prices relentless run supply winter
Massive inventory declines in crude oil are part of a three-month trend, heating oil prices continue their relentless rise, and the supply disruption premium is in full effect. This may only be the beginning; the winter oil bull run has begun.
decades impact minimal truth
Truth be told, by the government's own study, this would have a minimal impact on price, decades in the future.
build gas natural time
The real shocker is that there was a build of natural gas at this time of year.
ball behind build eight seek time
Typically this time of year, we seek to build inventories. This is going to put us behind the eight ball going into the winter.