A large swath of U.S. demand was taken out of the market as a result of Katrina. The EIA report shows that U.S. demand growth will decline by 40 percent. Overall inventories are still healthy.
More Quotes from John Kilduff:
The LOOP is incredibly important right now. If it is not up soon there will be a spillover for refineries in the Midwest, which could run out of crude quickly. This could lead to gasoline shortages in the weeks ahead.John Kilduff
In the absence of a new supply threat or dangerous geopolitical shift, holders of length will become increasingly nervous and reluctant to hold positions much longer. This is the core of our belief in a correction.
John Kilduff
We will be keeping an eye on Nigeria, Iran and even Iraq. The Nigerian news failed to spark a rally today. We've become a bit jaded.
John Kilduff
A significant amount of refined products will remain off the market for some time to come, and will prevent heating oil and gasoline stockpiles from being replenished, at least for the next few weeks,
John Kilduff
We are looking at the resurgence of the security premium. The Iranian situation is worsening. The U. S. attack in Pakistan, and the likelihood of further trouble in Nigeria are horrible news for consumers.
John Kilduff
We are in assessment mode right now. We are still trying to get a better picture of when refineries will be back up and production in the Gulf is restored.
John Kilduff
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Based on Topics: Health QuotesBased on Keywords: eia, swath
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When a man has lost all happiness, he's not alive. Call him a breathing corpse.
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At first, when I got bad press and people would talk bad about my family or something like that, I would get really upset, but now it's just not worth my energy.
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