23 Quotes by Paul Horsnell

The potential consequences don't even bear thinking about. There's such a concentration of refineries and chemical plants in a relatively small area that anything of that kind of intensity would be extremely nasty.

We believe that Iran matters more than is currently priced in, and that Iran's external relations remain the key wildcard.

But the scale of the fall remains beyond that which would be expected, given the difference in supply lines, and regardless of its motivation it still raises the question as to how inventories for the driving season can be built in a timely fashion.

Some of these refineries will not be back to full operation, perhaps well into next year.

We are in the middle of a fairly ferocious energy price spike. The spike could be checked by a move back towards normality in Venezuela, or by a release of U.S. strategic reserves. However, the application of either of these brakes does not look particularly imminent, and in their absence the upwards pressure is likely to continue.

We knew that things were getting fairly stretched and there was exposure to potentially even small shocks, but that is not a small shock, ... it's an absolute, monstrous hurricane.

There is no instant turnaround. It could take five years, six years or seven years.

Even before the hurricane there was no slack in the refining system, ... Now it's at breaking point. Those refineries will take months to come back online.

The Russian statement is clearly bullish, as the market expectation of any support for OPEC from Russia has increased from its previous level of zero.