Paul Horsnell
Paul Horsnell
abandon area continues france issue later likely major market potential relations rise seems talks week
The issue of Iran's international relations continues to rise to the fore as a major potential area of market concern. It now seems likely that the EU3 of Germany, UK, and France will later this week abandon the mothballed talks with Iran.
extremely falling gaining ground inventory remains situation total
The U.S. inventory situation remains extremely tight, with total inventories still falling and gaining no ground on the five-year average.
extreme faces market period prospect shocks sufficient
The market faces the prospect of years without sufficient flexibility or insulation from shocks during a period of extreme geopolitical stress.
barrels initial million question
The initial question is where is the 2 million barrels going to come from.
again companies equal expand gone industry proving sum
The industry has gone through such a contraction that getting it to expand again is proving difficult. These companies are not equal to the sum of their parts.
basis far fast hard market pushed seems
The market seems to have pushed far too far, far too fast and on the basis of far too little hard information.
amount barrels maximum million oil product quite
The maximum amount of oil product that can be managed into the U.S. is two million barrels a day. Logistically, it's quite challenging.
although becoming crude currently depress effect expected heavy imports loss market next none oil weekly weeks
The loss of short-haul heavy crude oil imports into the U.S. market is now becoming significant. None of that effect is currently in the U.S. weekly data, although it can be expected to depress imports in at least the next two weeks of data.
few magic within
If you had a magic wand solution, your magic wand would give you a few more refineries within the US system,