Mark Waggoner
Mark Waggoner
market pulling record
We are pulling back (from record highs), but this market will go back up.
build coming crude draw driving gasoline heading market move psychology season wants
If we see a draw on gasoline and build in crude this market is heading higher. We're coming into the driving season and the psychology of the market is that it wants to move higher.
barrels change further half hell itself market million move prolonged
Half a million barrels in and of itself is not going to change a hell of a lot. But if it is prolonged or we have further threats, that will move the market higher.
gas market seen supplies
Gas supplies are back and yet we haven't really seen the market sell-off.
buying fund market overdone pendulum swing time
The market is overdone with fund buying and it's time for the pendulum to swing the other way.
below closing market multiple sell somebody
The market is consolidating a little bit, but after closing just below $60 multiple times somebody will come in and sell it hard. I think we're going down to about $55-$56 in the long term.
matter pumping
OPEC's the big thing. They are just going to keep on pumping no matter what.
higher holidays keeping normal production supplies
Supplies really aren't a problem. Consumption over the holidays is usually a little higher than normal but production has been keeping up.
cold higher northeast staying stocks supposedly
We shouldn't really be going higher from where we are now. Because it's very cold in the Northeast distillate stocks supposedly should be drained. They're not. They're staying stable.
nigeria risk situation supply traders worried
Traders are worried that if this situation deteriorates, supply from Nigeria would be at risk.
lower months move
We're going to move lower from here. It's not going to take months and months to get all these refineries back.
cut interfere oil saying
What they're saying is, not only will we cut off our oil but we're going to interfere with other people's oil as well.
across builds oil
We're going to have builds across the board. We have more oil than we know what to do with.
bit problems
We're probably going to go a little bit higher. There's still going to be problems getting everything back up.