That build (in gasoline) is very mysterious, driven by another big drop in demand. |
That's pretty close to a capacity pace in imports. It looks like the Saudis are more than offsetting the Iraqi loss, |
That's pretty close to a capacity pace in imports. It looks like the Saudis are more than offsetting the Iraqi loss. |
The big thing was that products stocks were up at expense of crude. The good news is we're building products supplies; the bad news is crude supplies are back down toward historic low levels. |
The biggest surprise was the increase in distillate stocks, |
The biggest surprise was the increase in distillate stocks. |
The fundamentals across most of the complex are so bearish that on any given day you're either going to need to a lead from gasoline or some bullish geopolitical headlines to give this market a rally. Otherwise it's just going to sink. |
The fundamentals across most of the complex are so bearish that on any given day you're either going to need to a lead from petrol or some bullish geopolitical headlines to give this market a rally. Otherwise it's just going to sink. |
The funds are back in the market, showing a strong commitment on long positions for crude. |
The funds are really scrambling to build a larger position in the long gasoline crack spreads. |
The gasoline draw is a bullish number, without doubt. The decline was much bigger than the 1.1 million barrels draw the Street was anticipating, |
The gasoline draw is a bullish number, without doubt. The decline was much bigger than the 1.1 million barrels draw the Street was anticipating. |
The gasoline figure was the important number, the decline was much larger than expected. |
The main feature was the big gasoline drop again. That's going to support the entire complex. |
The numbers didn't do much to slow the rally down, |