Phil Flynn
Phil Flynn
Philip "Phil" Flynnis an Irish businessman. He was previously a vice-president of Sinn Féin, a trade unionist, an industrial relations consultant, a government advisor and a financier. He was the eldest of five children of a nationalist mother and Fine Gael father...
calls cut despite left likes production unchanged vowed
The Saudis vowed that production would be left unchanged despite the calls to cut production by the likes of Iran.
appears history prices rally steam trying
OPEC has a history of trying to jawbone the market. It appears OPEC is trying to take a little steam out of the rally and keep prices under control.
capacity countries demand extra growing lack matter moves point spare
It doesn't matter what moves OPEC makes as long as demand is growing like this, ... There will come a point when no matter how much those countries produce, there won't be extra ... and they lack the spare capacity as it is.
challenge demand meet oil
If that happens, it's going to be a challenge to meet oil demand in this country.
bottom break close cold continue demand follow improve inability likely point prices starting supplies yesterday
The inability to follow through yesterday and break through $58 makes it likely that we are close to the bottom and prices are set to rise. Demand is starting to improve and distillate supplies continue to fall. It will have to get cold at some point and we will be in trouble.
iran market supply uncertain wants
The market is uncertain as to what it wants to do at this point. Supply is not the issue. The uncertainty about Iran is the issue.
concerned continued crude early gasoline high levels production rate strength supplies supporting tight trail week
The strength in gasoline is supporting crude oil. It is a little early to be concerned about gasoline, but supplies have continued to trail year-ago levels week after week. Supplies are tight even with the high production rate and imports.
bullish crude despite fact market showing
The market is showing you that there is still a bullish undertow despite the fact that crude inventories are solid,
bush gesture
The Bush administration is going to try to do anything it can, even if it's a psychological gesture to the market.
cut false impression last laying meeting people prices realize supplies
People got a false impression from the last OPEC meeting that they were unconcerned about supplies and price, and now they realize that OPEC is potentially laying out the groundwork for a cut in January. They won't just let prices fall.
looked number overall supply though west
Even though the overall number looked good, a lot of the supply was on the West Coast.
ahead betting expect looking market next run warmer week
Analysts are already looking ahead to next week and betting on warmer forecasts. If it doesn't get as warm as we expect then next week the market will run back up.
countries energy hold hostage political proven russia weapon
Russia has proven it will use energy as a weapon and try to hold countries hostage to their political strong-arm tactics.
high prices
How high prices will go we just don't know,