Michael Fitzpatrick
Michael Fitzpatrick
Singer best known as the frontman for the soul-pop band Fitz and the Tantrums. The band's debut LP, Pickin' Up the Pieces, hit number one on the Billboard Heatseekers chart in 2010.
ProfessionSoul Singer
Date of Birth21 July 1970
CityMontlucon, France
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Only if the news from the around the globe remains quiet will selling continue in earnest.
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There was a lot of panic yesterday as we all thought about the worst possible scenarios. The likelihood is that the worst won't occur.
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After a mild start to the week, temperatures in the Northeast and Midwest, key gas consuming markets, were expected to cool to below-normal later this week and next week.
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The weather will be more seasonal over the next week but it will take much more than that to put a dent in supplies.
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The market got ahead of itself earlier this week. With the world in its present state a move into hard assets makes complete sense. Any decline in oil should be looked at as a buying opportunity.
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The weather is cooperating and helping us replenish supplies. The speculative frenzy that followed the hurricanes has cooled down. Lower refinery operating rates have led to rising crude-oil stocks as products have arrived from elsewhere.
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The latest national Weather Service outlook is forecasting below-normal temperatures through February 21st, but an arctic cold blast is not expected.
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Prices have retreated unusually fast and there is still two months left for the thermometer to drop.
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Mild weather is supposed to continue across most of the northern third of the country until next week, .
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The weekly inventory numbers caught the market by surprise again. The unanimous UN decision demanding Iran stop nuclear enrichment probably rekindled concern that Iran will use oil as a political weapon.
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Crude oil will have to fall eventually because supplies are adequate and demand is not the greatest for this time of year. You can't justify crude oil at close to $60.
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The surprising fall in gasoline stocks and the approach of the cold are sending us higher. Also, imports contracted and gasoline demand rose.
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Milder weather forecasts for this week and extraordinarily high stockpiles continued to weigh on sentiment.
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Certainly the current supply fundamentals make it difficult to bid up prices much further.