There's a strong demand for gasoline and that's part of what's driving the market today.
More Quotes from Phil Flynn:
Refineries are squeezing out every gallon of gasoline possible, and theyre doing a good job of it. The problem is, its coming at the expense of the other products like heating oil.Phil Flynn
The market thought that, with extremely warm temperatures in the Northeast and refiners pumping near capacity, heating oil supplies would go through the roof. Now we're left wondering what would happen if it really set in, if it actually got cold.
Phil Flynn
We're seeing a lot of profit-taking in products - heating oil and gasoline - ahead of the weekend.
Phil Flynn
Nothing like a little psychological warfare to get the blood moving.
Phil Flynn
Maybe Iran, Venezuela and Russia need to get some fresh air as the fumes from their oil profits continue to cloud their better judgment. Oil power intoxication with an endless stream of oil profits seems to cause a feeling of extreme and all-encompassing power.
Phil Flynn
If you were worried about heating oil supplies there is nothing in these numbers that will ease your fears. If we get cold weather in the U.S. Northeast this market could really take off.
Phil Flynn
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