Peter Beutel
Peter Beutel
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.
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,
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.
limit lose oil three weeks
If we lose one refinery for two or three weeks the sky's the limit (for oil prices).
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.
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.
above feeling kerry might oil petroleum reserves sold stop strategic tried
The feeling was that Kerry might have tried to stop the restocking of the strategic petroleum reserve, and might have sold off reserves if oil got above $50.
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.
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.
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,
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.