Distillate inventories were up slightly but are not rising at a normal pace, so that is a little bit concerning.
More Quotes from Kyle Cooper:
Inventories are actually still 7 million barrels above the three-year average. Once these refineries start cranking back up, I think you'll see supplies rise pretty quickly.Kyle Cooper
Weather forecasts are now more in agreement for a moderation in temperatures after Christmas.
Kyle Cooper
The heating oil fundamentals are the worst since the winter of 1998-1999 when the price was 30 cents. There is plenty of supply and prices should be lower. It's too early in the winter but in a few weeks prices should be much lower.
Kyle Cooper
U.S. weather is turning less bearish. Bullish sentiment is still firmly in place and further price advances are possible, despite bearish current fundamentals.
Kyle Cooper
The weather remains the primary driver. Until the weather moderates, prices will likely remain robust.
Kyle Cooper
The Iranians are going ahead with their nuclear program and saying the heck with what the rest of the world thinks. They didn't say anything about cutting supplies but the market is still nervous.
Kyle Cooper
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