There is a bit of a time-lag in all this, but a prolonged cool spell should see a real impact on heating oil stocks, which until now have been robust.
More Quotes from Gerard Burg:
What we've seen over the last couple of weeks with disruptions at copper mines has narrowed the opinion of whether the market is going to be in deficit or surplus. More and more people are thinking it's going to be in deficit this year.Gerard Burg
For the last two years everyone's been calling the peak, and everyone's been calling it down, but it just continues to go on.
Gerard Burg
The path of Rita really spared most of the damage to refineries that was the concern. There's still a lot of pressure on the market, particularly due to tight capacity.
Gerard Burg
Crude inventories went in the opposite direction to the consensus view among analysts. That's taken crude oil up a little higher.
Gerard Burg
We're now in wait-and-see mode, ... There was a pull-back after Katrina went through, but early indicators are certainly that some damage has been done.
Gerard Burg
It's the constant talk of attacks and military action that are heightening tensions again and helping push up prices. We should see a bit of a rebound in Chinese consumption this year. The market is going to remain very tight.
Gerard Burg
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