Tom Bentz
Tom Bentz
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.
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.
adequate concerns good iranian last market seem sold week
The market has sold off pretty good in the last week - Iranian concerns faded, and the market then reverted to fundamentals. Inventories seem to be adequate everywhere.
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.
certainly people stand storms watching
We certainly can't stand another storm, ... That's why people are watching the storms out there now.
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.
basically goes
Could it go back to the record? Basically it goes without saying.
bull found market top
This is a bull market and we have not found a top yet.
demand high impact
Demand is snapping right back. Even with the high prices, there hasn't been that big an impact on demand.
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.
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.