Mark Waggoner
Mark Waggoner
demand pick starting
Demand is starting to pick up again, but it's not up that much.
matter pumping
OPEC's the big thing. They are just going to keep on pumping no matter what.
build coming crude draw driving gasoline heading market move psychology season wants
If we see a draw on gasoline and build in crude this market is heading higher. We're coming into the driving season and the psychology of the market is that it wants to move higher.
barrels change further half hell itself market million move prolonged
Half a million barrels in and of itself is not going to change a hell of a lot. But if it is prolonged or we have further threats, that will move the market higher.
bit problems
We're probably going to go a little bit higher. There's still going to be problems getting everything back up.
higher holidays keeping normal production supplies
Supplies really aren't a problem. Consumption over the holidays is usually a little higher than normal but production has been keeping up.
gas market seen supplies
Gas supplies are back and yet we haven't really seen the market sell-off.
completed expect hit month next supplies taking until
In the next month to month-and-a-half, we're going to hit $70 a barrel, and I would expect $75 to $85 by the summer. We're just going to be taking the supplies down until refinery maintenance is completed around the end of the month.
iran threat ways
Iran is the real threat because there's just so many ways it could play out. This is the one that could actually get us to $100.
bigger builds guys lower output prices
These guys are just ramping up output so fast. We're going to get bigger builds and prices are going lower from here.
plenty prices
These prices make no sense. We've got plenty of crude.
buying fund market overdone pendulum swing time
The market is overdone with fund buying and it's time for the pendulum to swing the other way.
below closing market multiple sell somebody
The market is consolidating a little bit, but after closing just below $60 multiple times somebody will come in and sell it hard. I think we're going down to about $55-$56 in the long term.
almost cross expect hurricane imports next season
Imports are up as well as refinery runs. The hurricane season is, cross your fingers, almost over. I expect $56.00 by the end of next week.