Tobias Merath
Tobias Merath
crude demand gasoline lead oil short weak
The refinery outages should lead to weak demand for crude oil from the refining sector. It's not crude oil that is in short supply, but gasoline and distillates.
amount attacks covering current higher hold investors iran news next nigerian oil ongoing political prices push short
With the ongoing political tensions in Iran and with Nigerian militants threatening more attacks on oil companies, short covering should push prices higher next week. Speculators still hold a considerable amount of short positions. With the current news flow, those investors should feel increasingly uncomfortable with their positions.
hurricane production risk season
There is still the risk to production outages as long as hurricane season is not over.