Tom Bentz
Tom Bentz
continued numbers somewhat trend
Overall, the numbers were somewhat neutral, so we continued with the trend from this morning, which was upward.
certainly people stand storms watching
We certainly can't stand another storm, ... That's why people are watching the storms out there now.
bounce downside late next saw trade week
We saw some late short-covering today. Once everyone realizes the downside is done, we'll bounce back next week and trade back around $11.
above became clear finds hard market mass selling trend upside
The short-term trend is down. The market finds it hard to muster any upside momentum. When it became clear we weren't going to get above $60 the mass selling started again.
cash coast full gasoline gulf keeping markets products season swing
Products were strong, with the refinery maintenance season in full swing keeping the Gulf Coast gasoline cash markets very strong.
basically goes
Could it go back to the record? Basically it goes without saying.
heads knocked nervous storm
If this storm heads into the Houston/Galveston area, there are a lot of refineries that could be knocked out. It's still a very nervous market.
demand hanging past prices rise signs tremendous weaker
Signs of weaker demand are hanging over the market. There has been a tremendous rise in prices over the past year, which had to have an effect.
certainly crisis hate potential supply word
I hate to use the word crisis, but there is certainly potential for real supply tightness,
decline imports katrina offshore percent production shock
We got a bigger-than-expected decline because offshore production is still down by more than 50 percent and imports were down. The shock of Katrina is still being felt.
convinced determine few issues picture sort weeks
There are just so many things going on, that I think it's going to take a few weeks to sort out all the issues and determine what the long-term fundamental picture is, ... At this point, I'm not convinced the long-term uptrend is finished.
believe certainly high hurt prices pump start ways
You have to believe that high prices have certainly hurt some demand. But how much is another story. If prices at the pump start falling, everyone will go right back to their old ways of guzzling gas.
bad buying crude gone iranian people situation
But the Iranian situation hasn't gone away. So $62 crude is probably not a bad value, and people see that as a buying opportunity.
bit iranian saying worries
That's relieving the Iranian worries a bit - I'm not saying it's going to go away, though.