Just as every media outlet is talking about 4-a-gallon gasoline and the politicians are talking investigations and taxes, the futures market is signaling that the worst may be over.
More Quotes from Phil Flynn:
Ten years ago, (Bolivia) wouldn't have created a ripple because there was enough world supply. But now we're in a sellers' market. What we're seeing now is any nation with any supply is trying to cash in. It's a very dangerous trend.Phil Flynn
The market is much more focused on Rita. OPEC is kind of secondary concern to the market. OPEC is already pumping as much as they can, so raising or not raising the ceiling is not going to make a difference.
Phil Flynn
February seems to be a month that is focused on large energy supply, but little concern with the world around us.
Phil Flynn
There was a big concern that they had lost a lot of the crop.
Phil Flynn
The debate is how cold will it get and for how long.
Phil Flynn
The market doesn't seem to want to go below 60 a barrel and it's having a hard time going above 70 a barrel. The question is, which way do we break out
Phil Flynn
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