Famous Quotes & Sayings

It's all supply and demand. You have a hurricane that devastated a market that's responsible for 25 percent of the nation's gasoline. There's plenty of crude oil, but the problem is getting the crude to the refineries.

I'm surprised by the drop in crude stocks and the further decline in crude oil imports,

Scott Smith

Economic trends favor the occurrence of write-downs at other companies. Crude oil prices have been cut in half and product inventories (remain at record levels). The thing that I think is more telling is that (these companies) are taking write-downs now in anticipation that crude prices will be low for the next few years.

Oil supplies are in pretty good shape. Crude oil should be a lot lower than it is. Supplies are building.

Not a drop of crude oil production has come back in the Gulf. It's going to take weeks and maybe months rather than days to get the industry back on its feet.

The report was a big surprise. Crude oil seems very ample.

This lends a positive tone to tomorrow's opening, as well as crude being down significantly today.

There's been a lot of damage to refineries in the region and that's the main concern. You can have as much crude as you want on hand but if you've got no way of turning it into product you do have a problem.

Vagit Alekperov

I am mainly speaking about oil refineries. It allows us to switch from retail sales of crude oil to working with our end-users.

If crude oil remains high, sugar prices will not be far behind.

Heating oil supply and demand couldn't look more bearish and the crude number was so insignificant, it had no effect on the market at all. Everywhere you look, we have physical supplies, and that's the overarching fundamental.

Heating oil supply and demand couldn't look more bearish ... and the crude number was so insignificant, it had no effect on the market at all. Everywhere you look, we have physical supplies, and that's the overarching fundamental.

Heating oil prices will be influenced by the weather but its price will mainly be lower this winter because of the overproduction of crude oil.

By and large you had this myriad of refinery news which supported the products and pushed crude prices up.

I'm not sure this is the start of a new trend in crude oil stocks and it probably reflects more of a desire on the part of refiners to limit the material they hold than it does a lack of supply,

In the short term, the main market problem at the refining level is the shortage of product, not inputs. It's mostly a problem of product (gasoline), not crude oil.

Jan Egeland

It is the first, crude way to get food there. It is not, however, a good way to get water and medicine distributed.

It's very simple. The energy market was up real strongly. That's part of it, as people consistently make the link between crude oil prices, inflation and gold.

It's going to see some more downside pressure later on this afternoon. Crude is looking at another build.

It's the same reasons as in the past. The price of crude oil is up significantly and there is a high demand (for gasoline), not only in the U.S., but around the world.

A supply disruption in the Middle East would increase the price of crude everywhere in the world no matter where or how it is produced.

I think now that that is digested, people are looking at some reasonable values; our view is that crude oil prices are going to remain high.

The firmer tone for crude futures should underpin the market at the open.

The first line of defense used to be drawing on stocks, and the last was price. Today, there's not enough spare crude or refining capacity. So, there's only price that's left as the defense mechanism.

The impact of a pop-up is relatively crude and relatively negative.

You've got an undercurrent of potential threats, in the broadest sense, to the crude supply and product supply that are going to keep markets weary. Unless there is a major surprise in oil stocks on the high side, it's going to keep prices underpinned at these higher levels.

Daniel Yergin

All the tensions and stress in the world's oil markets are flowing into the gasoline pump. The crude oil market is very tight, and a market that's this tight is vulnerable to politics, to hurricanes, to strikes and to emotions, and that's what we're seeing.

The geopolitical risks are still there. Because of these risks, I expect crude prices to rebound.

The economy seems to have completely absorbed high oil prices and people will be looking for steady economic growth next year. People expect a drawdown in crude oil stocks so they don't want to be short over the New Year.

The drop in crude oil was larger than expected, and that fueled buying.

The dichotomy in the US market between tight products and flush crude has become more pronounced.

The current price is much higher than it should be, since there is not a real crude oil shortage in the world market.

Michael Fitzpatrick

The current perception is that there is enough crude and heating oil around, thus the slide in prices.