Tobias Merath Quotes

With the ongoing political tensions in Iran and with Nigerian militants threatening more attacks on oil companies, short covering should push prices higher next week. Speculators still hold a considerable amount of short positions. With the current news flow, those investors should feel increasingly uncomfortable with their positions.

- Tobias Merath

Tags

Ongoing | Political | Tensions | Iran | Nigerian |

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Since many refineries deferred their maintenance work after the hurricanes, we expect this year's turnaround season to be particularly heavy. As a result, crude oil consumption by refiners should decrease, which could over the next weeks lead to falling oil prices. - Tobias Merath

There is still the risk to production outages as long as hurricane season is not over. - Tobias Merath

The refinery outages should lead to weak demand for crude oil from the refining sector. It's not crude oil that is in short supply, but gasoline and distillates. - Tobias Merath