Today was a golden opportunity to sell off. One would think that, with Katrina going off in a different direction, the market would, too. But it didn't. |
Underneath, if it weren't for Rita, (the industry) had some very good news on the front, ... If Rita doesn't live up to her billing, we possibly could see a nice correction in energy prices. |
Warm temperatures across the Midwest and the Northeast is pressuring prices in the short run, |
We are not completely out of the woods yet, but we saw a lot of relief yesterday (Tuesday) and that trend is continuing, |
We are starting to see signs of recovery after Hurricane Katrina ... It looks like the worst is over. |
We are starting to see signs of recovery. It looks like the worst is over. |
We can expect more normal readings soon but with each day that doesn't require heat, sellers will try to pile on. |
We can't get too comfortable about inventory levels because of the geopolitical situation. Demand is growing, which leaves us vulnerable to a disruption. If we lose output from a major source these ample inventories will soon be history. |
We had a big spike early last week with crude at a record and the heat in Texas. It shows that even with this huge supply, people are still feeling pretty vulnerable about things like heat and hurricanes. |
We have significant issues with gasoline, and this will come more into focus as the driving season approaches. |
We may end up with more crude and heating oil than we would have without Katrina. There are a lot of imports on their way and production may be close to normal by the end of the year. In two weeks there may be a flood of imports as the IEA barrels reach us. |
We may look back at the day fondly when we paid $3 a gallon. |
We really can't afford to lose more production. |
We really don't know the number. We're probably getting close to a point where we might find out. We haven't seen any sign that demand is faltering due to these high prices. |
We seemed to see some flight-to-quality buying in the bonds and gold, which seems to indicate traders' uneasiness with the (Iran) situation. |