"The key market to watch is the distillate market that is levered to consumer spending," said Brad Samples, an analyst with Summit Energy in Louisville, Ky. "I don't think we really saw a great reason out of that (GDP) report today to expect that consumer spending is healthy."
http://online.wsj.com/article/BT-CO-20100129-714852.html?mod=WSJ_latestheadlines
Friday, January 29, 2010
Consumer spending isn't yet up to snuff - WSJ
"We've still not seen robust signals from the data that the private sector is ready to stand on its own two feet," said Brad Samples, an analyst at Summit Energy in Louisville, Ky. "Consumer spending is by and large what drives the U.S. economy, and that in turn is what drives consumption of oil."
http://online.wsj.com/article/BT-CO-20100129-713137.html?mod=WSJ_World_MIDDLEHeadlinesEurope
http://online.wsj.com/article/BT-CO-20100129-713137.html?mod=WSJ_World_MIDDLEHeadlinesEurope
Wednesday, January 27, 2010
Oil is headed below $70 sooner or later - WSJ
With fuel consumption weak, "there is no reason for refiners to ramp up demand for crude," said Brad Samples, analyst at Summit Energy in Louisville, Ky., who said he expects prices to soon drop below $70 a barrel for the first time since mid-December
http://online.wsj.com/article/BT-CO-20100127-714070.html?mod=WSJ_World_MIDDLEHeadlinesEurope
http://online.wsj.com/article/BT-CO-20100127-714070.html?mod=WSJ_World_MIDDLEHeadlinesEurope
Crude oversupply becomes product oversupply - Reuters
"We are moving from a situation of crude oil oversupply to one of product oversupply. Fuel demand is just not strong enough to work off these product stocks, even though refineries are running at relatively low rates," said Brad Samples, an analyst at Summit Energy in Louisville, Kentucky.
http://www.forexyard.com/en/news/Oil-falls-towards-74-after-inventory-data-2010-01-27T183455Z-UPDATE-7-US
http://www.forexyard.com/en/news/Oil-falls-towards-74-after-inventory-data-2010-01-27T183455Z-UPDATE-7-US
Thursday, January 21, 2010
Discussing the impact of the President's banking proposal at ABC News
Brad Samples, a commodity analyst at Summit Energy Inc. said the market could see more volatility after President Barack Obama laid out plans to overhaul financial regulation. Obama is pushing for new rules that would restrict banks from using money gathered from deposits to trade stocks and bonds as well as limit the overall size of banks.
If big banks like JPMorgan Chase and Bank of America were forced to separate or reduce their market trading businesses, it would cut out a large portion of liquidity for commodities and derivatives markets, Samples said.
“When you threaten to cut out the biggest market makers, by definition it will increase volatility,” Samples said
http://abcnews.go.com/Business/wirestory?id=9628532&page=1
If big banks like JPMorgan Chase and Bank of America were forced to separate or reduce their market trading businesses, it would cut out a large portion of liquidity for commodities and derivatives markets, Samples said.
“When you threaten to cut out the biggest market makers, by definition it will increase volatility,” Samples said
http://abcnews.go.com/Business/wirestory?id=9628532&page=1
Thursday, January 14, 2010
Follow-through selling - Reuters
"Crude futures are down in follow-through selling after yesterday's EIA data showed very large builds in petroleum inventories. Data on retail sales have been disappointing also," said Brad Samples, analyst at Summit Energy in Louisville, Kentucky.
http://www.forexpros.com/news/general-news/update-7-oil-near-unchanged,-weak-economic-data-weighs-113009
http://www.forexpros.com/news/general-news/update-7-oil-near-unchanged,-weak-economic-data-weighs-113009
Option expiry and retail sales - Reuters
http://www.reuters.com/article/idUSN1410838320100114?type=marketsNews
"Data on retail sales have been disappointing also. Trading
is volatile in part due to trading on options for February
crude, which expires today," Samples added.
"Data on retail sales have been disappointing also. Trading
is volatile in part due to trading on options for February
crude, which expires today," Samples added.
Wednesday, January 13, 2010
Previewing the CFTC proposal on position limits - Reuters
Brad Samples, an analyst at Summit Energy in Louisville, said he believes the CFTC's new limits will be more stringent than those now set by the New York Mercantile Exchange for the oil market.
But Samples doesn't expect the CFTC to be too vigorous enforcing any new regulations, saying, "the CFTC will look the other way except for the most egregious instances of violation."
But Samples doesn't expect the CFTC to be too vigorous enforcing any new regulations, saying, "the CFTC will look the other way except for the most egregious instances of violation."
More on China's oil implications - Bloomberg
http://www.bloomberg.com/apps/news?pid=20601081&sid=aADt.PjPt4DM
"The Chinese authorities are taking steps right now to restrict the amount of excess liquidity in their economy,” said Brad Samples, a commodity analyst for Summit Energy Inc. in Louisville, Kentucky. “This would not necessarily have a bearish impact on the market but a mitigating impact on some of the bull influences in the market.”
"The Chinese authorities are taking steps right now to restrict the amount of excess liquidity in their economy,” said Brad Samples, a commodity analyst for Summit Energy Inc. in Louisville, Kentucky. “This would not necessarily have a bearish impact on the market but a mitigating impact on some of the bull influences in the market.”
Monday, January 11, 2010
Thursday, January 7, 2010
Oil Snaps 10-Session Gain On Economic Concerns - WSJ
http://online.wsj.com/article/BT-CO-20100107-711683.html?mod=WSJ_latestheadlines
"Chinese demand has offered key support for oil in 2009 and OECD (Organisation for Economic Co-operation and Development) demand is not there to fill the void," said Brad Samples, analyst with Summit Energy, in Louisville, Ky.
But he noted that it's not clear whether this monetary move could be bad for the Chinese economy or whether China may start to take away fiscal support because it believes the economy can stand on its own.
The Labor Department had reported Thursday that the number of U.S. workers filing new claims for jobless benefits rose by 1,000 last week to 432,000. The gain was less than expected, supporting some expectations that the job market is bottoming out.
"The market will look to see if unemployment is petering out at this level and what this will do for consumer spending and can it support (oil) consumption," said Samples.
"Chinese demand has offered key support for oil in 2009 and OECD (Organisation for Economic Co-operation and Development) demand is not there to fill the void," said Brad Samples, analyst with Summit Energy, in Louisville, Ky.
But he noted that it's not clear whether this monetary move could be bad for the Chinese economy or whether China may start to take away fiscal support because it believes the economy can stand on its own.
The Labor Department had reported Thursday that the number of U.S. workers filing new claims for jobless benefits rose by 1,000 last week to 432,000. The gain was less than expected, supporting some expectations that the job market is bottoming out.
"The market will look to see if unemployment is petering out at this level and what this will do for consumer spending and can it support (oil) consumption," said Samples.
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