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...
assets funds hard looking money movement paper places portfolio towards
Funds are looking for places to put money and they feel that fundamentals are still very there. There is a movement towards diversification, away from paper assets and back into hard assets (such as metals)... as a part of a portfolio you just have to have.
demand economy high hurt maybe means people plus supplies tight
Maybe the economy is not hurt as much as people feared. Tight supplies plus more demand means high prices.
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.
ahead barrels betting error hurricane less likely margin market million nigeria oil possible production season spare supply traders venezuela worries
With less than 2.0 million barrels of spare production capacity, even with higher-than-average supply of oil, the margin of error in the world oil market has never been thinner. And with worries about possible supply disruptions in Iran, Nigeria and Venezuela and another hurricane season ahead of us, traders are betting that it's likely something is going to go wrong.
tried yesterday
Yesterday we had the big sell-off and we tried to come back a little bit.
looks signs starting worst
We are starting to see signs of recovery. It looks like the worst is over.
close demand due high might point seen sign
We really don't know the number. We're probably getting close to a point where we might find out. We haven't seen any sign that demand is faltering due to these high prices.
burying dramatic expensive looking nuts squirrel unless winter year
This year the squirrel isn't burying any nuts and we're going into the winter on fumes. Unless something dramatic happens, we're looking at a very expensive winter.
relief saw trend woods yesterday
We are not completely out of the woods yet, but we saw a lot of relief yesterday (Tuesday) and that trend is continuing,
fondly paid
We may look back at the day fondly when we paid $3 a gallon.
ahead gasoline oil products seeing
We're seeing a lot of profit-taking in products - heating oil and gasoline - ahead of the weekend.