[The IEA announcement] has definitely relieved some of the pressure, ... But the problem is, it's going to take time to get here. |
[The IEA announcement] has definitely relieved some of the pressure, ... But the problem is, it's going to take time to get here. We're not out of the woods yet. |
As of now, everything's pointing higher. |
But the Iranian situation hasn't gone away. So $62 crude is probably not a bad value, and people see that as a buying opportunity. |
Could it go back to the record? Basically it goes without saying. |
Crude is also approaching all-time highs. |
Demand is snapping right back. Even with the high prices, there hasn't been that big an impact on demand. |
Demand, even without cold weather, is pretty damn strong. |
Everyone's asking, 'What's the high? What's the high?' In a runaway bull market, you can't say. But the market will stop climbing when it finally starts to have an impact on the economy and on demand. I don't see it stopping till we reach that point. |
Gasoline led it on the way up and it's leading it on the way down. |
Gasoline led the way all week, which should continue when we come in next week. |
Heating oil inventories are a far cry from what they should be at this time of year and (traders) don't think we're going to catch up in time for winter. |
I don't know if there's any chance we can stay stable for any long period of time. There are too many issues in the market. |
I don't think anybody was expecting to see that at the start of the day. The gasoline market has been pretty strong recently anyway because we're getting into the peak turnaround season. |
I hate to use the word crisis, but there is certainly potential for real supply tightness, |