Prices are off after a big rise during Christmas and New Year. With uncertainty over the Venezuelan strike and OPEC's response, I would expect volatile trade over the next few days.
More Quotes from Richard Savage:
Such, Polly, are your sex - part truth, part fiction; - Some thought, much whim and all a contradiction.Richard Savage
He lives to build, not boast, a generous race; No tenth transmitter of a foolish face.
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The supply side is going to progressively improve in the next few months, while the demand outlook is going to get worse. It's the combination of those two factors that's starting to undermine the bull story in this market.
Richard Savage
When anger rushes unrestrained to action, like a hot steed, it stumbles on its way. The man of thought strikes deepest and strikes safely.
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As we move through the winter, prices will fall below US50 and prices could average in the US40s in 2006. Investors think prices will stabilize and that will dampen enthusiasm.
Richard Savage
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