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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Mild weather is supposed to continue across most of the northern third of the country until next week, .
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Mild weather and growing stockpiles can't be ignored much longer.
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Milder weather forecasts for this week and extraordinarily high stockpiles continued to weigh on sentiment.
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Despite a weekend blizzard in the Northeast and an oversold market after a 16% sliding the last six sessions, record high levels of gas in storage would temper any buying even if the weather stays cold.
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The warm January has permitted a window of opportunity to stage an early refinery turnover, longer-term weather forecasts call for a warm conclusion to the heating season, and gasoline has been quickly rebuilding stockpiles in advance of summer.
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The weather will be more seasonal over the next week but it will take much more than that to put a dent in supplies.
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The weather is cooperating and helping us replenish supplies. The speculative frenzy that followed the hurricanes has cooled down. Lower refinery operating rates have led to rising crude-oil stocks as products have arrived from elsewhere.
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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 latest national Weather Service outlook is forecasting below-normal temperatures through February 21st, but an arctic cold blast is not expected.
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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.