Refineries are squeezing out every gallon of gasoline possible, and they?re doing a good job of it. The problem is, it?s coming at the expense of the other products like heating oil. |
Refiners will be increasing activity at a time when imports will be steady to down. That should give us a draw in crude stocks. |
Russia has proven it will use energy as a weapon and try to hold countries hostage to their political strong-arm tactics. |
slow, steady progression to the downside. |
So far the cooler weather hasn't put more pressure on the supply, but a hot scorching summer could definitely push prices higher. |
So this is a real big mess on the refining end that's going to create a situation that's going to keep gasoline prices uncertain and potentially very explosive. |
Storage was the reason gas went from $15 per million British thermal units to $8. If we have a warmer-than-normal February we're going to end the winter at all-time record high storage. |
Technically the market is looking good. The strong economic data and the Russia-Ukraine situation was enough to motivate the market higher. |
Ten years ago, (Bolivia) wouldn't have created a ripple because there was enough world supply. But now we're in a sellers' market. What we're seeing now is any nation with any supply is trying to cash in. It's a very dangerous trend. |
The big amount of crude is giving the market a little bit of comfort. Overall, I think we're going to see a very bullish year for oil. |
The big question is how long the demand destruction will last. If it is short we could be back to all- time high prices by the end of the year. |
The build up in crude could indicate the fall in distillate fuel has finally bottomed out, |
The build up in crude could indicate the fall in distillate fuel has finally bottomed out. |
The Bush administration is going to try to do anything it can, even if it's a psychological gesture to the market. |
The coffee market has the benefit of a huge new crop coming in now. |