Peter Beutel
Peter Beutel
believe bull energy
I believe we are done with the with energy bull market,
almost damage gas hurricane monday oil selling traders
If we come back on Monday and there is no new hurricane and Wilma has not done any damage to oil and gas production, then I think traders will be selling almost in relief,
additional almost bad everywhere expect gas increase news prices sometime
Right away, nationwide, we're going to see an increase of gas prices of 12 cents. We'll see it almost everywhere by Tuesday. In addition, sometime between St. Patrick's Day and the end of the month, I expect to see an additional 12 cents. This is extraordinarily bad news for the consumer.
problems seems supply
One of the big problems is that it seems there's no supply to see us through the end of the year.
amount huge oil stocks
With oil stocks so low, there's a huge amount of concern.
broke funds mutual oil
We also broke an important barrier. Once oil broke $62.50, a lot of mutual funds and speculators started buying.
decent demand finally report showing
This week's DOE report showed a decent withdrawal in distillate stocks, with demand finally showing some teeth.
bad good market news week
The good news is, we have a week to get ready. The bad news is that the market has all week to react.
avoided gulf half storm traders
With another storm threatening the half the Gulf that avoided Katrina, it has traders spooked this morning,
barrels chair consumes country deck less single
It's less than 30,000 barrels a day in a country that consumes 21 million. That's not even rearranging a single deck chair on the Titanic. But psychologically, it has some effect.
fall prices pushing worried
Everyone is worried it's going to be a very consumption-oriented fall and winter, and that's what's pushing prices higher.
drop factors higher middle move nigerian number october production time
Still, the middle of October is the time for us to look at a top. A number of fundamentals that used to move higher are getting pretty stale. The drop in production from the U.S. Gulf, the Nigerian strike, a lot of these factors aren't getting any worse.
behind effect exactly katrina remains tight time tomorrow weather worst
It's going to take a long time before we know exactly how to look at this, what effect Katrina is having long-term. I would like to say for now at least the worst is behind us. What tomorrow brings, particularly on the weather front, remains to be seen. We're still in a tight situation.
high level matter prices reach seeing stop
It's just a matter of seeing how high prices will go before we reach a level that will stop growth.