John Kilduff
John Kilduff
generate left speeding time winter
With winter speeding by, there isn't much time left to generate significant demand.
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.
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.
driving gasoline season summer supplies worries
Worries about gasoline supplies during the summer driving season are fading.
efforts power recovery
Remember, the power outages are what bedeviled recovery efforts after Katrina,
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,
biggest north oil supposed
The biggest disappointment is that oil is not getting out of the north which is supposed to be Kurdish-controlled.
bit downward range stuck
We're stuck in a little bit of a range right now ... we're still in a pronounced downward channel.
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,
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.
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.