16 ordspråk av Chris Mennis

Chris Mennis

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Fundamentally, we do have enough oil right now, and we have enough products. We may not have enough in future if we get this cut-off because of possible economic sanctions against Iran.

They're not going to resolve it unless there's a last minute deal done with the Russians. The Mullahs in Iran want a nuclear capability and that's why they have to be stopped.

If we manage a major correction now we maybe could get down to $65.50. The only thing that could give us a big pull back would be if Iran blinks and says it's going to stop its uranium enrichment. And I don't see that happening.

I wouldn't be surprised if that $2.10 is the high for the week.

We're not going to have anything firm from the UN on Iran, maybe for months. Tensions will stay high, maybe for two or three months, and that may drive prices higher.

If we get another increase in refinery runs like we got in last week's numbers we may get a sell-off.

Everybody expects it is going to be bad but nobody really knows. Guesses range from a draw of 10 million barrels on crude to 9 million barrels on gasoline.

There's less crude being run now through refineries than there is loss in production in the Gulf. We're estimating refinery runs are down about 2 million barrels a day while crude out of the Gulf is down a million and a half.

Not a drop of crude oil production has come back in the Gulf. It's going to take weeks and maybe months rather than days to get the industry back on its feet.

The initial euphoria that the world didn't end was followed by the hard reality that ... these refineries are going to be down for a while.

Where are we going to find another 30 to 60 ships?

It's probably going to go higher from here.

There's still healthy demand in the oil industry.

The most temperature-sensitive products are the gas and the heating oil and that's what's moving the market.

That arc is probably 600 miles. And Rita's going to hit somewhere in those 600 miles.

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