Peter Beutel
Peter Beutel
few hard higher past prices reason solid
It doesn't make a lot of sense to me. With what's been going on the past few days, it's hard to see a solid reason why prices should be higher today. It's disturbing.
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.
factor higher market moving plate prices
The factor that's moving prices higher is the overarching petro-political fears. This market has a lot on its plate this week.
higher looking prices year
We are looking at prices dramatically higher than a year ago in some cases.
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.
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,
fact further gear ignored kicked proof
The very fact that it was ignored is further proof that we are now in a bearish market. We feel that we may have kicked into a new gear on the downside.
ask increase traders
There's some apprehension about the report. If we don't see an increase in distillate inventories, traders are going to ask when we will before winter.
ask increase traders
There's some apprehension about the report, ... If we don't see an increase in distillate inventories, traders are going to ask when we will before winter.
acting fact fallen prices seem telling
Prices to me seem to be sick. I don't know if it's something to do with the economy. The fact that they're acting so sick, that they've fallen down and they can't get up is telling me that it may be something structural.
beyond difficulty either moving prices range seem trading
Prices seem to be in a trading range between $57 and $64. They are having difficulty moving beyond either of those borders.
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.
meet position spare unit vital
We're already in the position where every refinery unit is vital just to meet demand. We don't have any spare capacity. That's what it makes it so critical.