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.
kept numbers sign
This is a postcard from another country. If only we could have kept these numbers without the hurricane, this would have been a real sign of hope.
drop factors higher middle move nigerian number october production time
Still, the middle of October is the time for us to look at a top. A number of fundamentals that used to move higher are getting pretty stale. The drop in production from the U.S. Gulf, the Nigerian strike, a lot of these factors aren't getting any worse.
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.
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.
builds expecting last major report three
Last week's report showed builds in all three major categories, but we aren't expecting this week's report to be as bearish.
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.
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.
amount appear behind corner damage fact gasoline highest less prices rather reacting repair run seen time turned yes
It does appear we've turned the corner here in this market. They're reacting to the fact that there was less damage than expected, rather than the amount of damage that did occur. Yes, it's going to take time to repair these refineries, and yes there will be at least one day we'll see prices run up. But I think we've probably seen the highest gasoline prices behind us.
consumers defies hard laws point start
It doesn't make a whole lot of sense to me. It's hard to tell at what point consumers will start to balk. It defies the laws of economics.
few hard higher past prices reason solid
It doesn't make a lot of sense to me. With what's been going on the past few days, it's hard to see a solid reason why prices should be higher today. It's disturbing.
amount huge oil stocks
With oil stocks so low, there's a huge amount of concern.
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.
avoided gulf half storm traders
With another storm threatening the half the Gulf that avoided Katrina, it has traders spooked this morning,