John Kilduff
John Kilduff
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.
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.
beginning chemical damage fallen fourth france given hurt levels prices problem reminds report storm strike supply workers
The IEA report reminds us that there could be a supply problem in the fourth quarter. Storm damage and the chemical workers strike in France are going to hurt supply. Given the levels we have fallen from, prices are beginning to look like a bargain.
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.
directly driven path prices projected
Prices are going to be driven directly by the projected path of the storm,
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,
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.
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.
disappoint extent reports
To the extent that those reports disappoint us, you may see rebounds.
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.
biggest north oil supposed
The biggest disappointment is that oil is not getting out of the north which is supposed to be Kurdish-controlled.
positive silver staring stop traders
It's a silver lining, but it's not positive enough to get traders to stop staring down Rita.