Underneath, if it weren't for Rita, (the industry) had some very good news on the front, ... If Rita doesn't live up to her billing, we possibly could see a nice correction in energy prices.
More Quotes from Phil Flynn:
The Bush administration is going to try to do anything it can, even if it's a psychological gesture to the market.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
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.
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
It seems like the concern about the Iran showdown is trumping the fact that supplies are pretty good right now and that seems to driving the market.
Phil Flynn
Funds are looking for places to put money and they feel that fundamentals are still very there. There is a movement towards diversification, away from paper assets and back into hard assets (such as metals)... as a part of a portfolio you just have to hav
Phil Flynn
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