The weather will be more seasonal over the next week but it will take much more than that to put a dent in supplies.
More Quotes from Michael Fitzpatrick:
After a mild start to the week, temperatures in the Northeast and Midwest, key gas consuming markets, were expected to cool to below-normal later this week and next week.Michael Fitzpatrick
If the stock market were not making five- and six-year highs, Iran and the U. S. were fast friends and the Nigerian militants were stuffing flowers in the gun muzzles of the Nigerian army -- then we might be worried about a reversal, but not now.
Michael Fitzpatrick
Sometimes, the jobs we do seem to go unheralded, but I want you to know that is not the case. There are those who cheer us from afar. Although the applause doesn't always make it back to us, today we are celebrating an instance where it has.
Michael Fitzpatrick
The current perception is that there is enough crude and heating oil around, thus the slide in prices.
Michael Fitzpatrick
The real dichotomy in this market is that crude inventories are very high and that could make for some violent, back-and-forth price action. For the foreseeable future, the path of least resistance remains up until there is a significant structural economic or political shift.
Michael Fitzpatrick
Mild weather and growing stockpiles can't be ignored much longer.
Michael Fitzpatrick
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