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.
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,
break high oil
This isn't enough to break the back of high oil prices.
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.
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.
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.
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.
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.