Lawrence Eagles
Lawrence Eagles
driven due overnight price protests recovery security
Part of the recovery overnight (in the price of oil) may have been due to anti-Israeli protests in Jordan, where 30,000 protestors had to be driven back from the boarder by security forces,
continue crude current feeling next physical prices surplus week
Our feeling is that with the current surplus of physical crude that prices will continue to erode from here for the next week or two.
compliance demand fear february firm improve partly prices seen slump winter
Compliance will improve from February levels, partly because the winter demand will not be there and also because of the fear that prices will slump if OPEC is not seen to be in firm control,
band below cause itself mechanism price shown slump waiting
OPEC has shown itself to be market-savvy by recognizing that waiting for the price band mechanism to kick-in could cause a slump well below $22 a barrel,
caution clearly collapse currently early given main next oil paranoia price pumping threatens
Given the paranoia of the cartel that it is currently pumping too much oil and that this threatens a price collapse early next year, caution will clearly be the main watchword.
imagine means price smart trigger un until
I would imagine they'll use their 20-day price trigger as the barometer, which means not until the end of June, by when we should know what the UN is doing with smart sanctions,
announce bush gasoline measures prices seems short surprise
There seems to be a little surprise that Bush did not announce any measures that would have eased gasoline prices in the short term.
however itself shown stability
However in doing so it has also shown itself not to be a bastion of stability it had claimed, but a hawkish price-rigging organization.
iraqis job last money projects short supposed
Most of these projects were supposed to be done last year. If U.S. money had been made available, Iraqis could have done the job faster. Whichever way you look in the short term, it comes back to security.
china demand growth last strong within
Demand is still strong within China but growth was exceptionally strong last year. That year-on-year growth is narrower is not a surprise.
issues night oil plus
As we go forward, geopolitical issues won't go away over night, but we wouldn't have got to oil at $60 plus without a lot of other factors.
hurricane market situation
The market has coped very well with the hurricane situation on the surface, particularly on the refinery side,
attack eastern fashion fear lose middle remains respond small support
The U.S. will respond to this attack in some fashion and there remains a small fear that it may lose some Middle Eastern support as a result.
dangerous follow game playing prepared
OPEC is playing a dangerous game of bluff, and has to be prepared to follow it through.