Brent looks bullish, gaining strength from Nigeria's unrest. It is very rare to see spreads between WTI and Brent flattening. |
Brent looks bullish, gaining strength from Nigeria's unrest. It is very rare to see the spread between WTI and Brent flattening or negative. |
China didn't buy much oil last year. That could be the reason. |
Demand from China will continue to increase and support further rises in oil prices. The country needs more heavy fuel oil for power plants, and fuel for trucks is needed too. |
Expectations of lower oil demand prompted funds selling because Hurricane Katrina has a negative effect in slowing down the U.S. economy. |
I don't think we will see a big sell-off from here, because some (oil) facilities in the U.S. will not recover in the short term. |
It is a very choppy market. The earlier hurricane threat did impact the U.S. oil market. Refinery runs were being reduced as workers got evacuated. Now Emily looks to be approaching. |
Natural gas supplies have been severely disrupted in North America and the shortages took heating oil and crude prices higher, |
Natural gas supplies have been severely disrupted in North America and the shortages took heating oil and crude prices higher. |
Now is the lowest oil price this year when we look at the fundamentals. High inventories of gasoline and natural gas are weighing on oil prices now, but this situation won't persist. |
The current high inventories will be consumed during the maintenance. Gasoline demand remains strong in the U.S.. |
The large 3.2 million barrel increase in (US) gasoline accelerated selling. |
The market can't be too bearish, as they will also focus on refining capacity constraints in the Gulf of Mexico. |
The market can't be too bearish, as they will also focus on refining capacity constraints in the Gulf of Mexico. |
The market is led by natural gas now. |