The inventory reports should again be viewed with a cautious eye, as obviously the 'normal' transfer of products around the Gulf Coast is anything but 'normal,'
More Quotes from Kyle Cooper:
It's all about Mother Nature.Kyle Cooper
The recovery continues to be slow. Government reserves will more than make up for reduced production but they will eventually have to be replaced. This will probably end up being the most damaging storm to the industry by far.
Kyle Cooper
We've lost 450,000 barrels a day of production, which is significant. Shell hasn't given us much of an idea of when they will be able to restore output. This is a pretty reasonable reaction given that we don't know how long it will be before the production is back to normal.
Kyle Cooper
This market has moved higher on fear and sentiment and Bush may have succeeded in reducing some of the concern. Gasoline is getting whacked right now, which is pulling crude lower. His statements will have a psychological impact on the market but the physical impact is limited.
Kyle Cooper
There are obviously still some problems out in the Gulf. We will have to wait and see how fast repairs can be made.
Kyle Cooper
U.S. weather remains bearish for the next two weeks. It would certainly seem that at some point some cold weather would enter the major population centers of the lower 48 states, for Mother Nature remains neither bullish nor bearish forever.
Kyle Cooper
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The road can be hard on a kid if he's not careful.
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