The trajectory of the storm is changing and been moved closer to production but it is still no Ivan at this point. |
The worst possible outcome for the stock market is that it takes a month to decide the election, |
There are nice, healthy builds across the board, even in distillates. Barring a major geopolitical disruption, or things changing with OPEC, there will be pressure to the downside. |
There have been attempts this year to solve the bottleneck in the refinery part of the energy equation. That is still not resolved. |
There is justification for concern about natural gas prices at these levels. Prices now are essentially twice what they were last winter. That's likely to squeeze consumers. |
There is no strategic government reserve of natural gas or refined products, and right now the biggest concerns in the marketplace are for products. |
They're supplying the market the best they can, but they have very little impact on global refinery capacity and very little impact on geopolitical events. |
This is a situation where you've got a lot of supply on hand, leading to a drop in prices. |
This warm weather is lowering demand for natural gas and heating oil. What the market does is all in the hands of the weatherman. |
Truth be told, by the government's own study, this would have a minimal impact on price, decades in the future. |
Typically this time of year, we seek to build inventories. This is going to put us behind the eight ball going into the winter. |
Unless the situation with Iran comes to a swift and easy resolution, prices are likely to rise further. Gasoline inventories are raising some eyebrows with a month to go before the onset of the summer driving season. |
We have to wait for the refineries to come back on line, which will take a couple weeks. We're hearing a lot about the importance of getting the power going, but that isn't the only problem we will have reopening the refineries. Homes throughout the region are destroyed and workers need someplace to live. |
We're likely to see prices continue to trend upward. The biggest potential to push prices down is going to be an increase in supply, but right now supplies look pretty fixed. |
We're looking at some positive expansion, solid growth in jobs and in general economic growth, and that's something we see continuing. |