Peter Beutel
Peter Beutel
higher looking prices year
We are looking at prices dramatically higher than a year ago in some cases.
ethanol extremely gasoline nervous remain switch traders
Traders remain extremely nervous about gasoline supplies, especially with the switch to ethanol nationwide.
start top
You don't make a top when things start to look bearish; you make it when things look bullish,
happened happens higher human looking market nervous reasons time worst year
We don't know how much of the refinery is down or for how long. But not to negate the human tragedy, it happened at the worst time of the year seasonally. And it happens at a time the market is nervous and looking for reasons to go higher anyway.
billion consumers energy last nearly spent three week
American consumers spent nearly $10 billion more last week on energy than they did in the same week three years ago. That's not sustainable.
excuse hold meaningful meetings point reason shopping
They have at this point ceased to be a meaningful cartel at these prices. The only reason they hold these OPEC meetings is have an excuse to get out of their own countries, go to Vienna and go on a shopping spree.
excuse hold meaningful meetings point reason shopping
They have at this point ceased to be a meaningful cartel at these prices, ... The only reason they hold these OPEC meetings is have an excuse to get out of their own countries, go to Vienna and go on a shopping spree.
cold data economic economy good high numbers oil pressure sent shows weather
A combination of cold weather and good economic numbers has sent us higher. This week's data shows that the economy hasn't buckled under the pressure of high oil prices.
kept numbers sign
This is a postcard from another country. If only we could have kept these numbers without the hurricane, this would have been a real sign of hope.
bad news
This is the big one. This is unmitigated, bad news for consumers.
absolutely supply
This has absolutely nothing to do with supply and demand.
cause deal extremely gas great looks offshore oil potential powerful producing regions storm threaten unlikely
It is a powerful storm with the potential to cause a great deal of damage, but it looks extremely unlikely that this storm will threaten the offshore oil and gas producing regions of the Gulf.
builds expecting last major report three
Last week's report showed builds in all three major categories, but we aren't expecting this week's report to be as bearish.
concerned cut demand drop hawks number second threats
OPEC hawks are still concerned that demand could drop dramatically during the second quarter. But with there being a number of threats to supplies, the cartel did not feel it made sense to cut output.