It seems that crude is suffering because there's little capacity to refine crude. We are missing so much refining capacity now. |
It was no surprise that OPEC came out and said 'no change' to supply. |
It's a question of whether Iran or the U.S. blinks first. |
It's not hard to imagine, you know, that there could be safe-haven flows for the rest of the week. |
Let's not forget that refining capacity in the U.S has been severely knocked out by the hurricanes, which hit the Gulf Coast in September. |
Literally and figuratively, I think we've weathered the storm, as the release of strategic reserves has calmed the market. |
Lost refining capacity in the Gulf of Mexico and problems in France are a short-term weakness in crude. |
Oil could ease back a bit today, though the hurricane season runs into November so we're not out of the woods yet. Asian demand is still pretty strong, so we're likely to see some buying if it goes much below $60. |
Oil production is pretty close to capacity at the moment. The market is going to be very jittery until the Iranian issue is resolved. |
OPEC is set to keep production quotas unchanged ... and investors are hopeful that the International Atomic Energy Agency will strike a deal with Iran. |
OPEC is set to keep production quotas unchanged... and investors are hopeful that the International Atomic Energy Agency will strike a deal with Iran. |
OPEC is set to keep production quotas unchanged...and investors are hopeful that the International Atomic Energy Agency will strike a deal with Iran. |
OPEC is set to keep production quotas unchanged…and investors are hopeful that the International Atomic Energy Agency will strike a deal with Iran. |
Peak demand for winter fuel in the northern hemisphere is what is going to be driving oil prices in the fourth-quarter. |
People are reacting to these higher prices. |