I think people are starting to realize we might actually have a winter. Despite the fact we have ample crude supplies, distillate supplies are low for this time of the year.
More Quotes from Phil Flynn:
We can expect more normal readings soon but with each day that doesn't require heat, sellers will try to pile on.Phil Flynn
We're going to see a little bit of early demand. The market's biggest fear is that we'll get an early, cold winter.
Phil Flynn
The big amount of crude is giving the market a little bit of comfort. Overall, I think we're going to see a very bullish year for oil.
Phil Flynn
It could have been a heck of a lot worse. I have the feeling that we will bounce back quickly.
Phil Flynn
Fears are escalating that if at this rate refineries don't get back online quickly, then gasoline supplies which are currently above normal will fall to below normal.
Phil Flynn
Now that we've really had some cold weather, the numbers have changed the market's downward momentum and revived fears about winter fuel.
Phil Flynn
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