U.S. Petroleum Weekly – July 28, 2011
Demand weakened in recent weeks, crude oil stocks rose, distillates stocks rose.
Archive for the ‘U.S. Petroleum Weekly’ Category
U.S. Petroleum Weekly – July 11, 2011
Crude oil and distillates stocks recorded small declines. Supply/demand balance is tight.
Release of strategic reserve will have, in my view, relatively small effect on supply/demand balance, so the price weakness is probably short-term.
U.S. Petroleum Weekly – June 30, 2011
Demand is strengthening, crude oil stocks declined, distillates mostly unchanged. Supply/demand balance is tight.
Release of strategic reserve will have, in my view, relatively small effect on supply/demand balance, so the price weakness is probably short-term.
U.S. Petroleum Weekly – June 9, 2011
Demand is strengthening, crude oil stocks declined, distillates increased. Supply/demand balance is tight.
U.S. Petroleum Weekly – May 19, 2011
No changes from last week. Weak demand, low distillates stocks, high crude stocks. Driving season ahead.
U.S. Petroleum Weekly – May 12, 2011
Mixed bag of data. Low refinery utilization rates, low net imports, low product stocks. On the other hand high level of crude oil .
Driving season could begin to lower the crude inventory.
U.S. Petroleum Weekly – May 5, 2011
Again the price of oil is not determined by the fundamentals but the last couple day’s new hit scare – deflation.
U.S. Petroleum Weekly – April 21, 2011
Goldman will certainly have a good explanation how in a depressed demand environment stockpiles are falling in a oversupplied market.
U.S. Petroleum Weekly – April 14, 2011
Goldman doesn’t like markets taking their research lightly, so it issued sell recommendations twice.
Same as it issued sell recommendation ahead 2008 crude oil record run.
Look at the gasoline stocks.
U.S. Petroleum Weekly – April 7, 2011
Main development since latest weekly is realization that light sweet Libyan crude can’t really be substituted by Saudi Arabia and market is in short supply.
Additional to Libyan war, we have unrest in Yemen, strikes in Gabon and postponed elections in Nigeria. Combined these three countries produce 2.8 million bbl of light sweet crude per day.
Absent of a stock market crash, crude oil is bound only up.
U.S. Petroleum Weekly – March 24, 2011
I was wrong on the assumption that West will let Gaddafi win the war in Libya. U.N. approved military intervention will keep the Libyan oil out of the markets for longer then previously thought. This is positive for crude oil price.
Concerning Japan it is reasonable to assume increased derivatives demand, also positive for oil price.
In the U.S. the gasoline draw is looking quite impressive (although it is not demand driven, rather a product of refiner discipline). This could help clear Cushing stockpile glut and close the WTI – Brent pricing gap.
U.S. Petroleum Weekly – March 17, 2011
Libya is out of the markets, but judging from the recent events the rebels are on the brink of defeat and since world needs oil purchases of Libyan crude could resume in following months.
Focus in the last few days has shifted to Bahrain, there also the ruling regime is succeeding to restore order using extremely violent measures.
The biggest question is the demand impact of Japanese earthquake, tsunami and nuclear disaster. I believe that short term demand shock is widely underestimated, but for the time being and despite the fundamental facts mentioned above I believe crude oil is bound to rise on all of this uncertainty.
U.S. Petroleum Weekly – March 10, 2011
Libya is out of the markets for some time. If demand stays at recent levels crude oil price will go up.
In U.S.: Markets are well supplied, demand historically speaking weak, refining capacity utilization low and crude oil imports. WTI – Brent pricing disparity lower, but still very high.
Refining industry discipline, stockpiling ahead of expected rise in prices and seasonal demand patterns are (very slowly) bringing down stockpiles.
U.S. Petroleum Weekly – March 3, 2011
To repeat: If Libya doesn’t restart producing with full capacity soon the price of oil will go up.
In U.S.: Markets are well supplied, demand historically speaking weak, refiners cutting refining capacity and crude oil imports. WTI – Brent pricing disparity still very high.
U.S. Petroleum Weekly – February 25, 2011
I already coved Libya importance for crude oil price: Importance Of Libya For World Oil Production.
Few days later, my view is that if Libya doesn’t restart producing with full capacity soon the price of oil will go up.
In U.S.: Markets are well supplied, demand historically speaking weak, refiners cutting refining capacity and crude oil imports. WTI – Brent pricing disparity still very high.