Tony Nunan Crude Quotations

Though there seems to be a lot of crude around, the long-term view is bullish, ... The U.S. Northeast will get colder and people may be concerned with middle distillate supplies.

Though there seems to be a lot of crude around, the long-term view is bullish. The U.S. Northeast will get colder and people may be concerned with middle distillate supplies.

The short-term situation in the U.S. is not good. With the refinery turnaround season, products should be tight but crude imports are higher and there is warm weather.

The market expects bearish inventories, with crude up by 1.5 million barrels, distillates down 1.7 million barrels and gasoline supplies unchanged.

The market is not terribly bullish in the short term because crude inventories are still high.