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.
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.
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.
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.
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.
additional aggressive agree almost attention build change company focused good hoops jump margins news ramp storm
The only good news is that with margins like this, every refiner that can will ramp up output. There may be a long-term change because this storm has focused attention on the need for additional refineries. An aggressive company may agree to jump through the hoops to build the first new refinery in almost 30 years.
ball behind caught eight opportunity people saw
We did have some profit-taking early, but I think a lot of people that were caught behind the eight ball saw that as an opportunity to buy.