Marshall Steeves
Marshall Steeves
concerned concerns eventually far turn
Eventually we'll turn around on geopolitical concerns about Iran, but as far as the inventories are concerned it's pretty bearish.
changes damaging direct energy hit houston interests less market people therefore thinking
The market is so hyper-sensitive to changes in the storm. The thinking is it will be less of a direct hit on Houston and therefore less damaging to energy interests and that was enough for people to take some profits.
continuing directed issues latest oil per security supportive though threats
The latest security threats in Saudi Arabia, even though they're not directed at oil installations per se, and the continuing refinery issues are having a supportive role.
expecting people product
It's positioning before the EIA survey, where most people are expecting a build, especially on the product side.
companies extent full knows nobody oil personnel survey until worse
Nobody knows the full extent of the damage. The speculation is that it will be worse than Ivan, but we won't really know for days, until oil companies get personnel out there and survey the damage.
companies extent full knows nobody oil personnel survey until worse
Nobody knows the full extent of the damage, ... The speculation is that it will be worse than Ivan, but we won't really know for days, until oil companies get personnel out there and survey the damage.
becomes economical industrial larger leg lower natural users
With each leg lower in natural gas, it becomes that much more economical for larger industrial users to come back to natural gas.
crude deficit good news oil sale
The good news is that with the 30 million-barrel sale of SPR oil, I don't think we will have much of a deficit in crude oil production.
close columbus fall gasoline jewish overboard prices quiet rather spite swings trading volume week
Trading is rather quiet this week because of Columbus Day and the Jewish holidays. You often see big swings in prices when the volume is low. Also, gasoline is close to $1.80, which is probably a little overboard in spite of the fall in demand.
active facilities katrina looking planned season turnaround upgrade
We are looking to an active turnaround season because of all of the deferrals from the fall. Refineries that planned to upgrade facilities put them off because of Hurricanes Katrina and Rita.
came damage difficult extent full hurricane ivan last occurred survey year
We won't know the full extent of the damage for weeks. A lot of the damage that occurred when Hurricane Ivan came through last year was underwater, which was difficult to survey and then repair.
lack pattern united united-states unusual warm
There is a lack of heating demand. We're experiencing a very unusual warm pattern in the United States. Also, the DOE (inventory) expectations are pretty bearish for tomorrow.
bit might offshore production quickly
There is a little bit of uncertainty on how quickly offshore production might come back online.
add covering few issue minor rise short supply
We were already on the rise through $65 on a few minor (refinery) supply disruptions. It's just another inflammatory issue to add to the short covering at the end of the week.