Famous Quotes & Sayings

There's not enough natural gas to substitute for heating oil. So this will help support crude oil prices. What we need is not (crude) oil but heating oil and natural gas. Unfortunately, there's no strategic reserves for them.

There's not a whole lot of movement in the market today. I think the crude market will watch for the two meetings this week.

I'm surprised by the drop in crude stocks and the further decline in crude oil imports,

It's difficult for me to envision (the OPEC offer) having too much of an impact. Crude inventories here in the U.S. are looking pretty good.

Jan Egeland

It is the first, crude way to get food there. It is not, however, a good way to get water and medicine distributed.

It's going to see some more downside pressure later on this afternoon. Crude is looking at another build.

I'm not sure this is the start of a new trend in crude oil stocks and it probably reflects more of a desire on the part of refiners to limit the material they hold than it does a lack of supply,

I think now that that is digested, people are looking at some reasonable values; our view is that crude oil prices are going to remain high.

By and large you had this myriad of refinery news which supported the products and pushed crude prices up.

Gas prices have gone up, but so have crude oil prices.

Gasoline supply and prices are driving things. The fall in crude stocks was a big surprise.

Gas is still taking a lot of direction from the crude market.

For nearly five straight weeks, the EIA stock report has now surprised the market with inventory numbers on the upside. As a result, prices for crude especially will revert to the lower numbers seen in December.

In the short term, the main market problem at the refining level is the shortage of product, not inputs. It's mostly a problem of product (gasoline), not crude oil.

The issue is not the supply of crude oil. Where there is an issue is natural gas in the U.S.

Prices are where they ought to be in relation to the price of crude oil. There may be some more movement up or down, but we don't expect it to do much more than where it is now over the next month or two.

The short-term situation in the U.S. is not good. With the refinery turnaround season, products should be tight but crude imports are higher and there is warm weather.

The surprise fall in crude stocks has helped the rally and the energy sector has keyed off that.

There's been a lot of damage to refineries in the region and that's the main concern. You can have as much crude as you want on hand but if you've got no way of turning it into product you do have a problem.

The risk premium for crude oil just went up.

It's a refinery problem, not a shortage of crude oil. Gulf production was at 93% capacity, so it's just a matter of getting it refined and getting it up the pipeline to meet demands.

All of the crude in the world does not turn the crude into product. It still has to be refined. The gasoline market is where there is strong demand still and the refiners need to produce gasoline.

The market is in a consolidation mode after recent gains. The rise in crude prices is also providing investors an excuse to sell.

The impact of a pop-up is relatively crude and relatively negative.

You've got an undercurrent of potential threats, in the broadest sense, to the crude supply and product supply that are going to keep markets weary. Unless there is a major surprise in oil stocks on the high side, it's going to keep prices underpinned at these higher levels.

Daniel Yergin

All the tensions and stress in the world's oil markets are flowing into the gasoline pump. The crude oil market is very tight, and a market that's this tight is vulnerable to politics, to hurricanes, to strikes and to emotions, and that's what we're seeing.

The geopolitical risks are still there. Because of these risks, I expect crude prices to rebound.

The economy seems to have completely absorbed high oil prices and people will be looking for steady economic growth next year. People expect a drawdown in crude oil stocks so they don't want to be short over the New Year.

The LOOP is incredibly important right now. If it is not up soon there will be a spillover for refineries in the Midwest, which could run out of crude quickly. This could lead to gasoline shortages in the weeks ahead.

The market feels fairly comfortable with the crude it has at these prices. It's difficult for me to envision (the OPEC offer) having too much of an impact. Crude inventories here in the U.S. are looking pretty good.

Subir Raha

The key reason for our increase in profit was global crude price volatility.

The drop in crude oil was larger than expected, and that fueled buying.

The dichotomy in the US market between tight products and flush crude has become more pronounced.