Peak demand for winter fuel in the northern hemisphere is what is going to be driving oil prices in the fourth-quarter.
More Quotes from David Thurtell:
The lingering political risks to supply mean we're not going to drive prices down too far or too fast. They haven't gone away but had slipped onto the back-burner either side of the U.S. supply report in the middle of the week.David Thurtell
The market's reacting to forecasts that heating oil demand will be 20 percent below normal this week, giving refiners a little breathing room to boost supply ahead of winter.
David Thurtell
In my view, prices had probably gone down too far, especially with peak demand winter season looming.
David Thurtell
Rising U.S. (crude) stocks could put a bit of pressure on prices, but I suspect we are at the time when stocks will stop rising and will start falling soon.
David Thurtell
People will start to pay attention to peak demand looming, with heating oil a worry.
David Thurtell
The market is very vulnerable to a supply shock like this. This news will push up prices when trading starts tomorrow.
David Thurtell
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