Oil should move lower because of the build in product supplies and the rapid disappearance of winter-weather worries. The continued fall in natural gas should also help pull all energy contracts lower.
More Quotes from John Kilduff:
The threats remind us of how tight the supply-demand balance is. These threats can't be dealt with there just isn't enough spare capacity, so prices are moving higher and will continue to do so.John Kilduff
We must also note the rising concern of complications with the implementation of new US gasoline rules and supposedly some complications from the rising use of ethanol, as those situations are clearly prompting speculative buying.
John Kilduff
The moderate weather is really helping push prices lower. As long as the oil keeps coming and demand languishes I see no reason for prices to rise.
John Kilduff
Natural gas is the one commodity here that I have very little to say about in the way of good news.
John Kilduff
Currently, there is adequate supply to contend with what remains of winter, particularly if mild weather persists.
John Kilduff
Basically, some easing of the tension vis a vis the Iran situation helped to take some of the worries out of the market in term of potential supply disruption from that country.
John Kilduff
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