Peter Beutel
Peter Beutel
attention close dying later living market paying people point report revisit rita turn twist until weather
People are not paying very close attention to it, ... At this point this market is just living and dying with every twist and turn of weather report -- we'll probably revisit it later but it's not important until we get Rita out of our systems.
market risk situation
The market has effectively discounted most of the risk of the situation already.
limit lose oil three weeks
If we lose one refinery for two or three weeks the sky's the limit (for oil prices).
afternoon anyone exactly friday goes gulf katrina likelihood looks market people point short talking
At this point it looks like $70 is squarely in the market's sights, and people are talking about it as a done deal, ... The likelihood is that if Katrina goes into the Gulf and we don't know exactly where it will make landfall, anyone short in this market Friday afternoon will panic.
capacity demand fuel gasoline jet last less night oil production reports sign spare strong switch time year
At this time of year we have seasonal maintenance on refineries as they switch over from heating oil production to gasoline production. Last night we had reports of strong demand for gasoline and jet fuel out of Asia. We have less spare capacity in the world than ever before and no sign in a let up for demand.
additional almost bad everywhere expect gas increase news prices sometime
Right away, nationwide, we're going to see an increase of gas prices of 12 cents. We'll see it almost everywhere by Tuesday. In addition, sometime between St. Patrick's Day and the end of the month, I expect to see an additional 12 cents. This is extraordinarily bad news for the consumer.
excuse hold meaningful meetings point reason shopping
They have at this point ceased to be a meaningful cartel at these prices, ... The only reason they hold these OPEC meetings is have an excuse to get out of their own countries, go to Vienna and go on a shopping spree.
excuse hold meaningful meetings point reason shopping
They have at this point ceased to be a meaningful cartel at these prices. The only reason they hold these OPEC meetings is have an excuse to get out of their own countries, go to Vienna and go on a shopping spree.
energy major prices recession time triple
Every time energy prices triple we have a major recession in 1½ to 2 years.
cold data economic economy good high numbers oil pressure sent shows weather
A combination of cold weather and good economic numbers has sent us higher. This week's data shows that the economy hasn't buckled under the pressure of high oil prices.
market prices
The market is so jittery. If anything comes out of this that is in any way escalating the situation, I think prices will go higher.
changes occurred wholesale
I'm not forecasting these changes. These changes have already occurred at the wholesale level.
amount huge oil stocks
With oil stocks so low, there's a huge amount of concern.
decent demand finally report showing
This week's DOE report showed a decent withdrawal in distillate stocks, with demand finally showing some teeth.