Peter Beutel
Peter Beutel
concerned cut demand drop hawks number second threats
OPEC hawks are still concerned that demand could drop dramatically during the second quarter. But with there being a number of threats to supplies, the cartel did not feel it made sense to cut output.
cause deal extremely gas great looks offshore oil potential powerful producing regions storm threaten unlikely
It is a powerful storm with the potential to cause a great deal of damage, but it looks extremely unlikely that this storm will threaten the offshore oil and gas producing regions of the Gulf.
acting fact fallen prices seem telling
Prices to me seem to be sick. I don't know if it's something to do with the economy. The fact that they're acting so sick, that they've fallen down and they can't get up is telling me that it may be something structural.
bad good market news week
The good news is, we have a week to get ready. The bad news is that the market has all week to react.
gasoline lines looking maybe worst
We could be looking at gasoline lines and $4 gas, maybe even $5 gas, if this thing does the worst it could do,
meet position spare unit vital
We're already in the position where every refinery unit is vital just to meet demand. We don't have any spare capacity. That's what it makes it so critical.
bond closely couple looking normally says speech traders
We'll be looking at it (Greenspan's speech) a lot more closely than we normally do, but I don't know if we'd ever look at it the same bond traders do. To them everything he says is gospel. It's only once every couple of years we even know what he's saying.
ethanol extremely gasoline nervous remain switch traders
Traders remain extremely nervous about gasoline supplies, especially with the switch to ethanol nationwide.
cold home huge increases looking owners price winter
We're going to see huge price increases, particularly for Midwestern home owners this winter; and if it's a cold winter they will be really hurting. They are already looking at price increases of 40 to 80 percent.
ball behind caught eight opportunity people saw
We did have some profit-taking early, but I think a lot of people that were caught behind the eight ball saw that as an opportunity to buy.
effect gasoline oil refine
We're still going to need to refine this oil into heating oil and gasoline before it really has an effect on us.
add areas avoided crude grade gulf half lighter near prefer problem producing storm traders
U.S. refineries prefer a lighter grade of crude than OPEC can add right now, ... The big problem is the refining issue. Now with another storm threatening the Gulf, and the half the Gulf that avoided Katrina, it has traders spooked this morning. We really don't need another storm near the producing areas at all.
add areas avoided crude grade gulf half lighter near prefer problem producing storm traders
U.S. refineries prefer a lighter grade of crude than OPEC can add right now. The big problem is the refining issue. Now with another storm threatening the Gulf, and the half the Gulf that avoided Katrina, it has traders spooked this morning. We really don't need another storm near the producing areas at all.
factor higher market moving plate prices
The factor that's moving prices higher is the overarching petro-political fears. This market has a lot on its plate this week.