240 ordspråk av Phil Flynn
Phil Flynn
Despite the efforts to avert a crisis the market seems unconvinced that it's unlikely that we can have an outcome that won't affect the price of oil.
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Even though the forecasts are turning colder, traders are already thinking about spring. The market is saying we think the winter is pretty much over given the supplies that we have.
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Even though the overall number looked good, a lot of the supply was on the West Coast.
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Even with record storage, another active hurricane season could leave us vulnerable if we get a long, hot summer.
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Every time we get some good news, we get bad news. Right now, a very good target for crude oil is $75.
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Everyone had this perception natural gas was cheap and plentiful. It was a market you could set your watch by. It would run up in the winter and down in the summer. It was a very quiet little market.
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Fear continues to grow with all the many risks to production around the globe.
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Fears are escalating that if at this rate refineries don't get back online quickly, then gasoline supplies which are currently above normal will fall to below normal.
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February seems to be a month that is focused on large energy supply, but little concern with the world around us.
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Forecasts for mild weather have brought the market down and with the holidays ahead, the market will move along the path of least resistance here.
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From an economic viewpoint, these numbers were encouraging. Especially encouraging were the distillate numbers ... We're going to have enough oil to weather the storm.
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Funds are looking for places to put money and they feel that fundamentals are still very there. There is a movement towards diversification, away from paper assets and back into hard assets (such as metals)... as a part of a portfolio you just have to have.
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Gasoline demand, while down from pre-Katrina levels, continues to improve.
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Heating oil, along with jet fuel and diesel demand, is up and there's no sign of slowing.
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Here's a market that can't follow through up or down. In my definition, that's a trading range.
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