RE:RE:RE:oil under pressureWell alot of times the move is baked in.. when its INV's time .. I mentioned that when oil was at 62... there was some chatter back awhile that you could pay for a servcie that would give you the report 15 mnutes before release ... but honeslty do not know of that is true or not... still think we will see a draw down next week.. but on CPG it wil move on the 24th .. Q4 time .. oil may not come into play next week on CPG.. unless we have a big build and a bad NR .. I guess ... down she goes ... never seems to work the other way..lol.. . just need some NR luck and market timing luck just ONCE for CPG .. NR release..
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Anschutz wrote: Good question. I've been wondering about this myself. Seem to be a lot of mixed messages around this. I'm hearing:
- US production is down due to frozen pipes = Bullish
- Refineries shut down due to cold = Bearish
- Gasoline and distillates fewer travelling yet people using cars to keep warm = Mixed
My family in San Antonio TX tells me stations in their end of the city have largely run out of gasoline. Last night they found one station that still had some premium left, but that was all they could find.
My take is that I think next week we see weak draws, possibly even a slight build. The following weeks next few weeks though I think we see massive draws as pipes come back online, refineries ramp up and distributors race to refill stations. Longer term I think people that can will take matters in their own hands. I see lots of fossil fuel generators and heaters getting bought up. Again where my family in Texas lives, the only way they are able to eat hot food has been by burning coal in their bar-b-q.
fortunetelller wrote: BP - What happens next week with the decline in output and the drawdown in oil ?