63 ordspråk av Kyle Cooper
Kyle Cooper
There is a little talk that OPEC may announce a cut. I don't know how likely that is, but the fall in prices might prompt some action.
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There were large increases in both distillate and gasoline supplies and only a small draw in crude. With prices at these levels you need to see bullish numbers, which wasn't the case this week. Supplies look adequate.
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There's plenty of supply. Crude oil supplies are above 320 million barrels, which is ample to meet demand from refiners.
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This certainly highlights what the bulls have been trumpeting. It is not known whether any actual production will be affected. Uncertainty and fear abound in this market.
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This is a financial, fear-driven market. It is not fundamental, nor has it been since early 2003, when prices and inventories began rising in tandem. It takes very little for prices to rise.
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This market has moved higher on fear and sentiment and Bush may have succeeded in reducing some of the concern. Gasoline is getting whacked right now, which is pulling crude lower. His statements will have a psychological impact on the market but the physical impact is limited.
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Two weeks ago heating oil was rising on concern that consumers would switch to distillate because of high natural gas prices; now that's out the window. It's incredible to see natural-gas supplies rise in December.
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U.S. weather is turning less bearish. Bullish sentiment is still firmly in place and further price advances are possible, despite bearish current fundamentals.
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U.S. weather remains bearish for the next two weeks. It would certainly seem that at some point some cold weather would enter the major population centers of the lower 48 states, for Mother Nature remains neither bullish nor bearish forever.
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U.S. weather remains bearish for the next two weeks. It would certainly seem that at some point, cold weather would enter the major population centers of the lower 48 states, for Mother Nature remains neither bullish nor bearish forever.
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Uncertainty and fear abound in this market, and thus outright short positions remain highly at risk.
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We are just waiting on the inventory report now. Yesterday's big move wasn't justified. The Iranians are always talking about cutting output and supporting prices.
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We are rebounding a bit but this is still a bearish market. There is a little talk that OPEC may announce a cut. I don't know how likely that is, but the fall in prices might prompt some action.
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We came in higher but couldn't hold it, which underscores the weakness of the market. The overall supply of crude is very adequate and there is no risk of a shortage out there.
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We've lost 450,000 barrels a day of production, which is significant. Shell hasn't given us much of an idea of when they will be able to restore output. This is a pretty reasonable reaction given that we don't know how long it will be before the production is back to normal.
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