Tony Nunan
Tony Nunan
bullish crude market short term terribly
The market is not terribly bullish in the short term because crude inventories are still high.
equipped handle last market prices slack
Last time, the market could handle uncertainty as there was a lot of slack but now because prices are so high, the market is not equipped to handle unplanned events.
barrels crude expects gasoline market million supplies
The market expects bearish inventories, with crude up by 1.5 million barrels, distillates down 1.7 million barrels and gasoline supplies unchanged.
draws gasoline market turn
If we get draws in gasoline inventories, that could turn the market around.
market prices signs statistics test wants
If statistics show any signs of bullishness, prices will go higher. Technically, the market wants to test $65 a barrel.
example expected market recovery widely
Bearish (data) is widely expected and the market has already factored it in. But if it should show a recovery in demand, for example in gasoline, the market may rebound.
everybody looks market stocks watching
It looks like the market just doesn't want to go down. I think everybody is going to be watching stocks today.
market needed
It's just profit-taking, the market needed to correct.
above expect high inventory levels market prices stock unless warmer weighed
Even if there is a stock draw, unless it is substantially and unexpectedly high, I would not expect prices to go up above $60 as the near-term market is still heavily weighed down by high inventory levels and the warmer weather.
cautious market pauses
The market pauses here because everyone is very cautious about new data,
market overall picture
Overall big picture is the market is still strong,
market
The geopolitical tensions are still there, but the market is getting desensitized to it.
immediate inventory levels mild seems weather
Immediate fundamentals look bearish, ... Weather seems very mild and inventory levels are high.
coast concerns france giving gulf increasing operations supply support
Increasing concerns over supply shortages in the U.S because of the outages at refineries in the Gulf Coast and disruptions to refinery operations in France are giving support to the market.