Mark Pervan
Mark Pervan
bit gasoline profit since supply surprised taking
But since U.S. gasoline supply is actually ample, I'm not surprised there's been a bit of profit taking today.
strength surprised upside
The market, again, has been completely surprised on the upside - it completely underestimated the strength of the market.
crude drop fueled larger oil
The drop in crude oil was larger than expected, and that fueled buying.
buyers coming iran situation
The Iran situation is not going to go away so I see buyers coming in at the dip.
market money strong wants
It's had such a strong run. There's a lot of short-term money in the market that probably wants to take a profit, like hedge funds.
conditions current deliver good held hostage market operating results tough
They've been held hostage to pretty tough operating conditions. You want to be able to deliver good results into current market conditions but they haven't been able to do that.
report solid
Other than that, it was a solid report with no real surprises.
gasoline increase partly release reserves strategic supplies
The increase in gasoline supplies could partly be just the release of U.S. strategic reserves being accounted for now.
caused cautious damage filtering gulf hurricane information market oil
The market is still very cautious about the damage caused by Hurricane Rita, and they're just digesting new information filtering in about damage to oil rigs in the Gulf of Mexico,
ahead market
The market would be positioning ahead of that deadline.
becoming concerned full gasoline less market shows supplies towards
The market is becoming less concerned about gasoline supplies in the US. It shows the US refineries are getting towards full capacity.
capital certainly expecting generous management market
The capital management was certainly on the cards, but the market wasn't expecting such a generous offer.
appear chinese demand determine line physical prices supply trying
The Chinese are trying to put a line in the sand, and they appear to be a lot more aggressive. But what will determine prices won't be talk, but physical supply and demand, and demand is still very strong.
bit caution prices profit taking
There is probably a little bit of caution - we could see some profit taking - these prices look pretty heady.