Jim Ritterbusch
Jim Ritterbusch
stretch
This thing has tentacles that are going to stretch all over the place,
deficit early winter
You still have a sizable year-on-year deficit in distillate stocks, so it's too early in the winter to write off this distillate market.
analyze equipped potential response rita upside
After Katrina, we're better equipped to analyze the potential for Rita and I don't think the upside response will be as exaggerated.
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The big thing was that products stocks were up at expense of crude. The good news is we're building products supplies; the bad news is crude supplies are back down toward historic low levels.
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A source of support to the screen appears to be indications of increased refinery maintenance that should prove capable of reversing a dramatic 23-mil bbl up-trend in gasoline stocks during the past seven weeks. Production declines should also be driven by some slippage in gasoline yields.
currently market rightly sign support underneath viewed
They didn't do anything, and the market viewed that as bearish and rightly so. There's currently no sign of support underneath this market.
currently market rightly sign support underneath viewed
They didn't do anything, and the market viewed that as bearish and rightly so, ... There's currently no sign of support underneath this market.
capacity gasoline presents problem produce sufficient within
The problem with sufficient refinery capacity to produce gasoline still presents an issue, at least within the US.
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High prices are eating into consumer demand, and the focus is on gasoline because of the upcoming driving season.
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By and large you had this myriad of refinery news which supported the products and pushed crude prices up.
numbers rally slow
The numbers didn't do much to slow the rally down,
capacity close iraqi looks pace
That's pretty close to a capacity pace in imports. It looks like the Saudis are more than offsetting the Iraqi loss.
biggest increase surprise
The biggest surprise was the increase in distillate stocks.
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It's easy to analyze this one because there is only one number to talk about. That gasoline build was just huge again.