The stocks numbers are extremely bearish. You wouldn't want to be short though. You've just got to watch what's going on with Iran.
More Quotes from David Thurtell:
While the market had factored in the potential consequences of reporting Iran to the UN, when it actually happens prices take the effect further.David Thurtell
Peak demand for winter fuel in the northern hemisphere is what is going to be driving oil prices in the fourth-quarter.
David Thurtell
From his language he recognizes that while higher prices are good for revenues in the short run, longer term they help destroy demand. OPEC is probably going to increase by 1 million barrels a day.
David Thurtell
Provided we don't get any disruptions to supply, it looks like prices could have short-term weakness. But if we get a much colder winter, it could send prices into the sixties range again.
David Thurtell
Companies will still deal with the Chinese in the future. They are big players, and it's a brave player who refuses to deal with them. But companies and brokers may demand deals be confirmed all the way up the line.
David Thurtell
We're at the lowest available output I've seen in maintenance season for some years. There's a cleaner fuels impact and then other work was delayed after last year's hurricanes when supplies were short.
David Thurtell
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