Peter Beutel
Peter Beutel
broke funds mutual oil
We also broke an important barrier. Once oil broke $62.50, a lot of mutual funds and speculators started buying.
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.
across board draws reason report
Yesterday's report showed draws across the board and for some reason it didn't take.
start top
You don't make a top when things start to look bearish; you make it when things look bullish,
ethanol extremely gasoline nervous remain switch traders
Traders remain extremely nervous about gasoline supplies, especially with the switch to ethanol nationwide.
avoided gulf half storm traders
With another storm threatening the half the Gulf that avoided Katrina, it has traders spooked this morning,
additional aggressive agree almost attention build change company focused good hoops jump margins news ramp storm
The only good news is that with margins like this, every refiner that can will ramp up output. There may be a long-term change because this storm has focused attention on the need for additional refineries. An aggressive company may agree to jump through the hoops to build the first new refinery in almost 30 years.
higher looking prices year
We are looking at prices dramatically higher than a year ago in some cases.
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.
happened happens higher human looking market nervous reasons time worst year
We don't know how much of the refinery is down or for how long. But not to negate the human tragedy, it happened at the worst time of the year seasonally. And it happens at a time the market is nervous and looking for reasons to go higher anyway.
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.