Jon is a crude oil market analyst specialising in the Americas. His work at Energy Aspects centres on supply and demand fundamentals, with an emphasis on trade flows and global arbitrage. Prior to Energy Aspects, he worked for Shell Trading US and BG Group as an oil analyst responsible for North American and Latin American markets, and for a Fortune 500 utility in Houston, TX. Jon holds a BS in Electrical Engineering from Texas A&M University and a MS in Finance, with distinction, from the University of Houston.
Diesel markets are tightening already, and, with crude rallying, production growth will be a challenge in the near term. Simple margins have been hammered by the surge in Brent prices. Meanwhile, the Atlantic basin stock situation is much more bullish than a year ago—inventories have likely..
Extract from production:We forecast that total Canadian liquids production fell by 67 thousand b/d m/m to 5.05 mb/d in February, still higher y/y by 37 thousand b/d, although this would be the slowest growth in 18 months. The m/m slip was led by a 71 thousand mb/d decline in synthetics output due..
Extract from crude oil:US crude stocks fell counter-seasonally by 1 mb to below 428 mb, compared to the usual five-year build of 2.2 mb, taking stocks lower y/y by 105 mb and only marginally higher than 2014 levels. Perhaps more importantly, total commercial inventories plunged by 10.6 mb and mov..