Tim Evans
Tim Evans
despite drawn extent last limiting market might page positions prices profit pushing short storage taking warmer week
The natural-gas market is on a completely different page now, with profit taking on short positions pushing prices higher, despite what are still impressively bearish prospects. This week will be warmer than last week, limiting the extent to which storage might be drawn down.
build gasoline last price seeing several weakness
The gasoline build is substantial and it confirms the price weakness we've been seeing over the last several days.
boost extent failed late outlook potential prices remains season suggest support weather
The weather outlook remains a potential fundamental support for these markets, but it has been so well advertised and has failed to boost prices to such an extent as to suggest that it is still too little winter, too late in the season to matter.
build bulls case drop fight hurt month past price stocks trying
The bulls are trying to put up a fight here, trying to make a case that the build in stocks and the drop in price over the past month haven't really hurt all that bad.
apply call economics economy-and-economics filled forth higher laws prices supply view
The laws of economics still apply and higher prices call forth more supply while dampening demand. The long view of the market's history, filled with booms and busts, is on our side.
balance chopping looking market opportunity price relaxed storm updates
There still may be ample opportunity for price chopping off storm updates over the balance of the week, but the market is looking considerably more relaxed today.
data morning quite trouble
It's having trouble getting out of its own way. Fundamentally, the CPI data from this morning was really quite mixed.
inside
This is really just some short-term consolidation. We are inside of yesterday's range.
crude desire hold lack limit material oil reflects start stocks sure trend
I'm not sure this is the start of a new trend in crude oil stocks and it probably reflects more of a desire on the part of refiners to limit the material they hold than it does a lack of supply,
crude decline drop further oil stocks surprised
I'm surprised by the drop in crude stocks and the further decline in crude oil imports,
blows calming cycles data gulf hurricane last rita week
There may be more cycles of hyperventilation yet to come as Hurricane Rita blows through the Gulf of Mexico, but the DOE data for last week was a calming influence.
april covering crude draw last oil short since surprise total trigger weekly
Crude oil may have been able to trigger short covering off the surprise 1.3 million-barrel draw from last week, but inventories are still at their second-highest weekly total since April 1999.
although boost chilly current expected helped northeast
Current chilly temperatures in the Northeast U.S. also helped boost prices, although these are not expected to last.
cash move profits rush
Really, it's just a rush to cash in profits on what was really a spectacular move higher.