Most of us had known days ago that the U.S. would loan oil but some people interpreted the headline as a release of oil, possibly of products. Then the market realized and started buying it back.
More Quotes from Deborah White:
The United States doesn't have to worry about gasoline lines. But consumers need to worry about the price they pay this week. They should be prepared for a short-term shock. Only time can fix that.Deborah White
OPEC is keeping it from going any higher. But we've risen on Nigeria. Nigerian crude is light, sweet crude. It tends to be in short supply.
Deborah White
Other than the weather, and hurricanes, and refineries going down, and Saudi Arabia and Iran, and strong economic statistics, there really is no reason why crude oil prices should be so high. It must be speculation, don't you think
Deborah White
We've gone from comfortable U. S. gasoline stocks to average and seem to be heading very clearly toward the low of the range. The market is worried about that.
Deborah White
The IEA is doing what it can to talk the market down. The spin is don't worry too much, we've made this release, there might be another and demand is slowing down.
Deborah White
The knee jerk reaction to this sort of headline is to think of the Middle East as a powder keg.
Deborah White
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