John Kilduff
John Kilduff
demand katrina supply taken
As much as Katrina has taken (the oil) supply off the table, there's also demand it has taken off the table.
positive silver staring stop traders
It's a silver lining, but it's not positive enough to get traders to stop staring down Rita.
fear hanging nervous premium quite
It's the uncertainty on the storm's track. We're still quite a nervous market, and a substantial fear premium has already been priced in at this point, ... We're hanging on every report.
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.
directly driven path prices projected
Prices are going to be driven directly by the projected path of the storm,
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.
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.
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.
coming cut demand helping keeps moderate near oil prices push reason signs weather
The moderate weather is really helping push prices lower, ... There are no signs that OPEC will cut back on output, which has jumped to near records. As long as the oil keeps coming and demand languishes, I see no reason for prices to rise.
crude gasoline incredibly lead loop run soon weeks
The LOOP is incredibly important right now. If it is not up soon there will be a spillover for refineries in the Midwest, which could run out of crude quickly. This could lead to gasoline shortages in the weeks ahead.
bullish damage hangover ivan mode news
The hangover from the damage done by Ivan is still on everybody's mind. We're still in that mode where any bullish news is tremendously bullish even if it's slight.