Tom Bentz
Tom Bentz
gas good headed last sustain three types
There's been a lot of gas headed this way. Can we sustain these types of import numbers? Probably unlikely, but we've had a pretty good surge in the last three weeks.
barrels mean meeting might next raise sure talk
There's talk that OPEC might raise quotas at the meeting next week. I'm not sure this will actually mean more barrels though.
bull found market top
This is a bull market and we have not found a top yet.
catch cry far oil time year
Heating oil inventories are a far cry from what they should be at this time of year and (traders) don't think we're going to catch up in time for winter.
continue last likely market seems stay strong
The market has been strong over the last two days, it seems likely to continue to stay strong on petrol.
continued numbers somewhat trend
Overall, the numbers were somewhat neutral, so we continued with the trend from this morning, which was upward.
comment iranian
The Iranian minister's comment got it going a little bit.
built cause mean price somewhere
The inventories have built a little bit, but that doesn't mean an outage somewhere doesn't cause price spikes.
heads knocked nervous storm
If this storm heads into the Houston/Galveston area, there are a lot of refineries that could be knocked out. It's still a very nervous market.
ahead farther itself line market moving price question
The market got way ahead of itself and we're now moving to a price that's in line with the fundamentals. The only question is how much farther we have to go.
bad buying crude gone iranian people situation
But the Iranian situation hasn't gone away. So $62 crude is probably not a bad value, and people see that as a buying opportunity.
convinced determine few issues picture sort weeks
There are just so many things going on, that I think it's going to take a few weeks to sort out all the issues and determine what the long-term fundamental picture is, ... At this point, I'm not convinced the long-term uptrend is finished.
bounce downside late next saw trade week
We saw some late short-covering today. Once everyone realizes the downside is done, we'll bounce back next week and trade back around $11.
major problems
We still have some major problems down in the Gulf, and they're not going to go away.