This is a triple whammy, ... The EIA report points to higher prices because we have a draw on gasoline and not any build on crude oil stocks...at the same time distillate stocks are also running behind, when they should be building too.
More Quotes from Phil Flynn:
It will be a very short-term psychological impact, ... In the past this oil card has backfired.Phil Flynn
There is still a lot of concern about how bad the damage is in the Gulf of Mexico. It will be an incredible achievement if we can avoid fuel shortages this winter.
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
OPEC has a history of trying to jawbone the market, ... It appears OPEC is trying to take a little steam out of the rally and keep prices under control.
Phil Flynn
Nothing like a post-Thanksgiving spring storm to sink the energy complex. The warmer-than-normal temperatures are raising hopes that this winter will continue on the warmer than normal side.
Phil Flynn
We've gone away from worrying about supply and are concerned that demand may be stronger than anticipated if we get an early winter and stay cold through March.
Phil Flynn
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