Kevin Norrish
Kevin Norrish
across basis builds expecting looks market people potential product reaction strength
People were expecting builds across the board. On that basis the market reaction that we have had is not surprising...It looks like product strength has the potential to return.
foreign four held helping hostage news nigerian oil prices released workers
News that four foreign oil workers held hostage by Nigerian militants have been released (was) helping prices to ease back a bit.
increase necessary order production question view whether
One question would be whether it would be necessary for an increase in production in order to make up for Nigeria. I have a feeling, they probably view that as a bonus.
concern crude disruption few market output potential stretched system tightly
There's still going to be concern about potential hurricanes in the market for a few months. Crude output and refining are so tightly stretched that you don't need a big disruption to put the system under a lot of pressure.
absolute consumed energy fall fossil fuels share
The share of fossil fuels (in China's energy use) may fall but the absolute amounts consumed will grow.
buying definitely oil order resources ship
This is definitely not about buying up oil resources in order to ship the oil into China.
capacity fully katrina large log rather severe showing signs system top
The U.S. refinery system has been showing signs of severe tightness. The shut-in of refining capacity from Katrina is then not so much a straw, but rather a large log on top of an already fully laden camel.
course currently expected fallen figures inventory iranian keeping market meeting oil potential prices release since situation wednesday worse
Oil prices have fallen since the release of worse than expected US oil inventory figures on Wednesday but the potential for the Iranian situation to worsen during the course of the IAEA meeting currently underway is keeping oil market participants wary.
attacks dominated markets oil remains sentiment
Oil markets sentiment remains dominated by the escalation of attacks in Nigeria.
breaks cut explicitly highest per price record
At US$63.92 per barrel, this breaks the record for the highest WTI price at which a cut has been explicitly called for.
continue currently external iran key major matters oil prices relations remain risk situation upside wild
Iran matters more than is currently priced in and Iran's external relations remain the key wild card. We continue to see the situation as representing the major upside risk for oil prices this year.
both china countries crude demand energy help india issue prices seem seen stage western
India and China are big importers of crude oil, and they're both at the stage of their development where they're energy intensive, ... We have seen no pullback in demand in those countries, or in western countries --demand doesn't seem to be an issue that would help keep prices in check.
nigerian potential run situation
The Nigerian situation has the potential to get a lot worse. It's going to run and run.
benign chances coming iranian issue market matter months nuclear recent sharp time
It's only a matter of time before geopolitical developments give the market another sharp tug. The chances of a benign settlement in coming months over the Iranian nuclear issue have receded in recent weeks.