John Kilduff
John Kilduff
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.
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.
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.
barrel grind higher oil spike ultimate
We're forecasting oil will grind higher up to $33, ... with an ultimate spike up to $40 a barrel on the outbreak of hostilities.
driving gasoline season summer supplies worries
Worries about gasoline supplies during the summer driving season are fading.
approach average caused gasoline levels national past prices record several
We are at levels that in the past several years had caused gasoline prices to approach the $1.70-type national average record levels.