Michael Fitzpatrick
Michael Fitzpatrick
Singer best known as the frontman for the soul-pop band Fitz and the Tantrums. The band's debut LP, Pickin' Up the Pieces, hit number one on the Billboard Heatseekers chart in 2010.
ProfessionSoul Singer
Date of Birth21 July 1970
CityMontlucon, France
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Even in a bull market you get periods of a little relief, and this is one of them. Some of the Iranian words today were conciliatory. In reality nothing has changed and the market will soon rise again.
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The Governor of Nigeria doesn't think that militants are set to attack again soon and that has apparently prompted a little profit taking in front of tomorrow's reports.
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Last year began with a large surplus but an unusually hot summer ate up those reserves and soon thereafter the hurricanes hit. There is still some infrastructure that was damaged, which could be a problem.
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Repairs are proceeding apace. Discretionary driving can be cut back but you have got to heat your house. Heating oil will soon lead the market.
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The mild weather and contracting demand are continuing to send us lower. Crude oil will soon test $56 and the products $1.50.
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The conclusion is probably being made that any surplus will be promptly sopped up as soon as seasonal demand kicks in.
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The storm may lead to further evacuations. If the storm moves into the Gulf it will lead to a suspension of repairs and there may even be a contraction in production. We're taking no chances.
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The UN-Iran conflict will recede a bit in coming sessions since the UN won't look back into the situation for 30 days. Iran now has 30 days to posture, it can issue some harsh words and in the end negotiate better terms when the deadline approaches.
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Crude oil will have to fall eventually because supplies are adequate and demand is not the greatest for this time of year. You can't justify crude oil at close to $60.
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Crude is being held back by the apparent consensus that OPEC will keep pumping.
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Crude inventories are at extraordinarily high levels, due in part to a steady flow of imports in recent months, giving the market a thick buffer against potential supply disruptions.
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Prices have retreated unusually fast and there is still two months left for the thermometer to drop.
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The surprising fall in gasoline stocks and the approach of the cold are sending us higher. Also, imports contracted and gasoline demand rose.
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Temperatures in the Northeast and Midwest were expected to remain above normal for the next 10 days.