Veronica Smart
Veronica Smart
crude draws oil price problem prolonged refined shortage stock
If we had a wide-scale and prolonged freeze, we could have big stock draws and price spikes. There isn't any shortage of crude in the market, the problem is getting it refined into heating oil and gasoline.
given kept level oil resistance risk
Given the way oil kept on going after it powered through the resistance level at $60 I think there's more risk of upside.
closes emergency loss running
The only refineries that could use it (the emergency oil) are the ones who are up and running and working, and every day (that) another refinery closes is just another million-barrel loss for the market.