John Kilduff
John Kilduff
biggest north oil supposed
The biggest disappointment is that oil is not getting out of the north which is supposed to be Kurdish-controlled.
changed sentiment supply worries
The sentiment has changed from worries over supply to worries over demand.
barrel market needs nervous single
This is a very nervous market that needs every single incremental barrel the market can put out and produce,
bit downward range stuck
We're stuck in a little bit of a range right now ... we're still in a pronounced downward channel.
below break close july key looking near next term
We will be looking to see if we can get below $59.30, which is key support. In the near term $56.30 is the target. It's close to the July low and if we can break below that we will next be looking at the $46 area, which is the May low.
buying cover elsewhere four iraq market positions shut situation taking
There's pre-holiday buying taking place. In Iraq and elsewhere things are percolating. The market will be shut four days, and in this geopolitical situation it makes sense to cover positions and bets.
amount few gasoline market next oil prevent products refined remain time
A significant amount of refined products will remain off the market for some time to come, and will prevent heating oil and gasoline stockpiles from being replenished, at least for the next few weeks,
late selling wave
There was a late wave a selling at the end of the day.
dollars four gasoline high higher prices realm telling
There's no telling how high prices of gasoline prices could go, at least for a time. Four dollars or higher is not out of the realm of possibility.
break high oil
This isn't enough to break the back of high oil prices.
although bargain certainly condition decidedly given hunters last low negative pause picture technical volume year
This condition will last through the New Year and has given the technical picture a decidedly negative bias. Any bargain hunters have certainly been given pause by yesterday's action, although the low volume probably exacerbated the downdraft.
demand discourage drivers helping high louisiana obviously partly parts prices road
Demand was down nationwide, partly because drivers were off the road in parts of Louisiana and Mississippi because of Katrina, and obviously because high prices are helping to discourage demand.
damage demand fears high hurting katrina oil prices
Demand destruction fears are trumping fears about damage to oil facilities. It's not just Katrina that is hurting demand. High prices have strained economies, especially in Asia, and demand is being curtailed as a result.
believe boost colder demand dent disruption market obviously occur pressure supply turn
Apparently, the market does not believe a turn to colder temperatures will boost heating demand enough to make a significant dent in supplies. Obviously some other supply disruption may have to occur to take the pressure off prices.