Peter Beutel
Peter Beutel
gasoline lines looking maybe worst
We could be looking at gasoline lines and $4 gas, maybe even $5 gas, if this thing does the worst it could do,
amount appear behind corner damage fact gasoline highest less prices rather reacting repair run seen time turned yes
It does appear we've turned the corner here in this market. They're reacting to the fact that there was less damage than expected, rather than the amount of damage that did occur. Yes, it's going to take time to repair these refineries, and yes there will be at least one day we'll see prices run up. But I think we've probably seen the highest gasoline prices behind us.
effect gasoline oil refine
We're still going to need to refine this oil into heating oil and gasoline before it really has an effect on us.
ethanol extremely gasoline nervous remain switch traders
Traders remain extremely nervous about gasoline supplies, especially with the switch to ethanol nationwide.
capacity demand fuel gasoline jet last less night oil production reports sign spare strong switch time year
At this time of year we have seasonal maintenance on refineries as they switch over from heating oil production to gasoline production. Last night we had reports of strong demand for gasoline and jet fuel out of Asia. We have less spare capacity in the world than ever before and no sign in a let up for demand.
amount huge oil stocks
With oil stocks so low, there's a huge amount of concern.
avoided gulf half storm traders
With another storm threatening the half the Gulf that avoided Katrina, it has traders spooked this morning,
decent demand finally report showing
This week's DOE report showed a decent withdrawal in distillate stocks, with demand finally showing some teeth.
energy major prices recession time triple
Every time energy prices triple we have a major recession in 1½ to 2 years.
afternoon anyone exactly friday goes gulf katrina likelihood looks market people point short talking
At this point it looks like $70 is squarely in the market's sights, and people are talking about it as a done deal, ... The likelihood is that if Katrina goes into the Gulf and we don't know exactly where it will make landfall, anyone short in this market Friday afternoon will panic.
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.
broke funds mutual oil
We also broke an important barrier. Once oil broke $62.50, a lot of mutual funds and speculators started buying.
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,
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.