Simon Wardell
Simon Wardell
high point prices steady supplies
With steady supplies and high inventories, at some point prices are going to have to retreat.
crude heavy impact light loss oil particular plenty seeing type
The particular type of oil being lost, light sweet, is much in demand. So we're actually seeing a real impact from the loss of that crude. Having said that, there is actually plenty of crude around. But a lot of it is heavy and sour.
capacity risks spare
There is so little spare capacity and many risks to supply.
concerns iran might moment prices primarily strong
Prices are strong at the moment primarily because of the tensions over Iran and concerns over what might come out from the IAEA inspection.
bit damage diesel gasoline initially looks low might oil severe worry
As we've had more damage assessment, it looks like it might be more severe than initially expected. Gasoline stockpiles are still very low and heating oil and diesel may be a bit of a worry going into the winter.
initially might people plants product system
There might be a little more flexibility in the U.S. refining system than people expected. Plants have been able to churn out more product than initially thought.
bit dispute earlier frankly happened ill market moment people rise russia seen shaky sharon strange surprised week
It is a strange market at the moment and frankly I am surprised that the rise we've seen earlier in the week from the Ukraine-Russia dispute is still there. People still feel a bit shaky about what happened in Russia and Ukraine, and with Sharon ill and some uncertainty in Israel.
discount markets nigerian operations price production
It could be that it shuts down all of Shell's onshore operations in Nigeria. The markets are going to discount Nigerian production in the price of oil.
buffer capacity fairly form good happy lacking market production spare supplies
Supplies are ample and stockpiles are rising. We're still lacking spare production capacity but the market is fairly happy that there's a good buffer in place in the form of inventories.
disruption iran large nigeria offset producers short
In the short term, any kind of disruption from two very large producers like Iran and Nigeria isn't something that can be offset by other production.
determination determined market pass seems
The market seems to be determined to pass 70 dollars.
discount markets nigerian operations price production
The markets are going to discount Nigerian production in the price of oil. It could be that it shuts down all of Shell's onshore operations in Nigeria.
focus iran quite
Iran is going to be the focus for still quite a long period.