Read on Twitter
1/ Musings* on hurricanes and the #oil market..
*from my years of experience sitting on my fat ass staring at my screen - rather than any direct experience chasing them around Texas or Louisiana
#OOTT
*from my years of experience sitting on my fat ass staring at my screen - rather than any direct experience chasing them around Texas or Louisiana
#OOTT
2/ Hurricanes are big, bad and scary for the #oil market. As well as being very dangerous for humans.
But hurricanes don't change the S&D. They temporarily distort and distract from the underlying story.
#OOTT
But hurricanes don't change the S&D. They temporarily distort and distract from the underlying story.
#OOTT
3/ All the price action is at the very front end of the gasoline market. It is untradeable. And people like you & I shouldn't be there in the first place.
Normal people, like you & I, have no edge in the midst of a CAT4 storm.
#OOTT
Normal people, like you & I, have no edge in the midst of a CAT4 storm.
#OOTT
4/ Hurricanes are now much, much more of a risk to #oil demand and refining than to US production. These platforms are built to take a kicking.
That said, COVID19 era protocols may see a slower restart in the coming days.
#OOTT
That said, COVID19 era protocols may see a slower restart in the coming days.
#OOTT
5/ Never sell short the US engineer. There is just so much $ at risk with idle or damaged refinery kit that it will get fixed much more quickly than the market anticipates.
#OOTT
#OOTT
