Tom Bentz
Tom Bentz
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.
signs
There are some signs that things are getting better.
course hit ivan last list production saw similar
There is a long list of production and refineries out because of the hurricane. The course is similar to what we saw with Ivan last year, which hit production for a long time.
continued numbers somewhat trend
Overall, the numbers were somewhat neutral, so we continued with the trend from this morning, which was upward.
barrels mean meeting might next raise sure talk
There's talk that OPEC might raise quotas at the meeting next week. I'm not sure this will actually mean more barrels though.
built cause mean price somewhere
The inventories have built a little bit, but that doesn't mean an outage somewhere doesn't cause price spikes.
bit iranian saying worries
That's relieving the Iranian worries a bit - I'm not saying it's going to go away, though.
basically goes
Could it go back to the record? Basically it goes without saying.
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.
adding crude market plenty
There's already plenty of crude in the market. Adding more crude to a market that already has plenty of crude doesn't make much of a difference.
buying commodity crude funds hands seems
It seems like funds are buying every commodity they can get their hands on, from crude to gold.
far market needed run
This market has run up too far too fast. It's a needed correction.
gas good headed last sustain three types
There's been a lot of gas headed this way. Can we sustain these types of import numbers? Probably unlikely, but we've had a pretty good surge in the last three weeks.