From an economic viewpoint, these numbers were encouraging. Especially encouraging were the distillate numbers ... We're going to have enough oil to weather the storm.
More Quotes from Phil Flynn:
Even though the overall number looked good, a lot of the supply was on the West Coast.Phil Flynn
It sure did a heck of a job working on oil traders' nerves as the market went ever higher.
Phil Flynn
There are so many threats to oil production right now, it'll keep prices high. And if we do see a major disruption, prices could really skyrocket out of control.
Phil Flynn
Proposed talks between the United States and Iran can convince oil traders that maybe there is a way out of the Iranian conflict.
Phil Flynn
Storage was the reason gas went from 15 per million British thermal units to 8. If we have a warmer-than-normal February we're going to end the winter at all-time record high storage.
Phil Flynn
The big question is how long the demand destruction will last. If it is short we could be back to all- time high prices by the end of the year.
Phil Flynn
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