114 ordspråk av John Kilduff
John Kilduff
We are looking at the resurgence of the security premium. The Iranian situation is worsening. The U.S. attack in Pakistan, and the likelihood of further trouble in Nigeria are horrible news for consumers.
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We must also note the rising concern of complications with the implementation of new US gasoline rules and supposedly some complications from the rising use of ethanol, as those situations are clearly prompting speculative buying.
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We will be keeping an eye on Nigeria, Iran and even Iraq. The Nigerian news failed to spark a rally today. We've become a bit jaded.
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We will be looking to see if we can get below $59.30, which is key support. In the near term $56.30 is the target. It's close to the July low and if we can break below that we will next be looking at the $46 area, which is the May low.
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We'll be paying attention to gasoline because there is a question about supplies as summer approaches.
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We're forecasting oil will grind higher up to $33, ... with an ultimate spike up to $40 a barrel on the outbreak of hostilities.
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We're going to keep on marching higher here, ... The next stop is the $41.15 it hit on the heels of Saddam Hussein's invasion of Kuwait and from there I would expect another spike higher. Once hostilities ensue I wouldn't be surprised to see $50 or $60 print.
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We're going to keep on marching higher here. The next stop is the $41.15 it hit on the heels of Saddam Hussein's invasion of Kuwait and from there I would expect another spike higher. Once hostilities ensue I wouldn't be surprised to see $50 or $60 print.
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We're on a hair trigger.
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We're staring down the barrel of a policy problem that's causing this situation for consumers. They should have been given more time.
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We're stuck in a little bit of a range right now ... we're still in a pronounced downward channel.
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We're worried about two things as we sit here at the beginning of November: natural gas inventories and heating oil inventories, which make up part of that distillate number,
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We've been down this road before with Iraq. Any spike is usually brief. However, given the backdrop ... this is being taken a little bit more seriously.
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What we're hearing sounds similar to the run-up to the invasion of Iraq.
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When prices are at these heights you need fresh worrisome news to keep us moving higher. Crude inventories are swelling globally. We'll be paying attention to gasoline because there is a question about supplies as summer approaches.
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