After a couple of months of overestimating, we redid our modeling. We hope this more accurately captures what's going on in the market place.
More Quotes from Jason Schenker:
The gain in distillate was unexpectedly large, which should eventually weigh on the market. Distillate increased because a decline in demand coincided with an increase in imports.Jason Schenker
In the near term, the overall health of inventories is likely to be important.
Jason Schenker
You've got (U.S.) supplies coming from a lot of places more imports, more refinery capacity and more production from the Gulf of Mexico, and that's pulling down prices in the short term.
Jason Schenker
With gasoline futures at records a nationwide average of 3 at the pump is likely in the near-term.
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We have to wait for the refineries to come back on line, which will take a couple weeks. We're hearing a lot about the importance of getting the power going, but that isn't the only problem we will have reopening the refineries. Homes throughout the region are destroyed and workers need someplace to live.
Jason Schenker
Although consumers care about headline inflation, it's not the Fed's priority. The Fed has its eye on the core.
Jason Schenker
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