John Kilduff
John Kilduff
crude gasoline incredibly lead loop run soon weeks
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.
barrel market needs nervous single
This is a very nervous market that needs every single incremental barrel the market can put out and produce,
believe boost colder demand dent disruption market obviously occur pressure supply turn
Apparently, the market does not believe a turn to colder temperatures will boost heating demand enough to make a significant dent in supplies. Obviously some other supply disruption may have to occur to take the pressure off prices.
late selling wave
There was a late wave a selling at the end of the day.
changed sentiment supply worries
The sentiment has changed from worries over supply to worries over demand.
coming cut demand helping keeps moderate near oil prices push reason signs weather
The moderate weather is really helping push prices lower, ... There are no signs that OPEC will cut back on output, which has jumped to near records. As long as the oil keeps coming and demand languishes, I see no reason for prices to rise.
amount few gasoline market next oil prevent products refined remain time
A significant amount of refined products will remain off the market for some time to come, and will prevent heating oil and gasoline stockpiles from being replenished, at least for the next few weeks,
bit downward range stuck
We're stuck in a little bit of a range right now ... we're still in a pronounced downward channel.
below break close july key looking near next term
We will be looking to see if we can get below $59.30, which is key support. In the near term $56.30 is the target. It's close to the July low and if we can break below that we will next be looking at the $46 area, which is the May low.
generate left speeding time winter
With winter speeding by, there isn't much time left to generate significant demand.
disappoint extent reports
To the extent that those reports disappoint us, you may see rebounds.
approach average caused gasoline levels national past prices record several
We are at levels that in the past several years had caused gasoline prices to approach the $1.70-type national average record levels.
barrel grind higher oil spike ultimate
We're forecasting oil will grind higher up to $33, ... with an ultimate spike up to $40 a barrel on the outbreak of hostilities.
driving gasoline season summer supplies worries
Worries about gasoline supplies during the summer driving season are fading.