Phil Flynn Quotes (127 Quotes)

This is a market with no clear conviction, ... You could blow on this market and move it either way.

We may end up with more crude and heating oil than we would have without Katrina. There are a lot of imports on their way and production may be close to normal by the end of the year. In two weeks there may be a flood of imports as the IEA barrels reach us.

Now we need continued warm weather to keep up this downward trend, ... And we should look to OPEC now, too. They're getting whacked on the dollar, and the price of crude is falling. If they decide to cut production, we'll be right back at square one.

If you are in the market for natural gas, you will really have big issues here if it (Rita) shuts down production for any extended period of time,

Demand for gas is outstripping expectations and the question is how storage will fare as it appears we will be drawing on it much earlier than normal.

We still have had a pretty good correction from the peak. It shows that there's a lot of confidence in the oil industry and the economy.

There's a perception that this demand destruction is going to continue. But I think that people are being a little bit overly optimistic.

Storage was the reason gas went from 15 per million British thermal units to 8. If we have a warmer-than-normal February we're going to end the winter at all-time record high storage.

We will be following the day-to-day developments of the Iranian situation. Oil prices will be supported until there is a resolution of the Iran nuclear standoff.

I think people are starting to realize we might actually have a winter. Despite the fact we have ample crude supplies, distillate supplies are low for this time of the year.

It's going to get pretty ugly. It's ugly already. We're going to hit 3 a gallon nationwide.... That's the number that I'm hoping that we're going to stop at.

Now that we've really had some cold weather, the numbers have changed the market's downward momentum and revived fears about winter fuel.

Every time we get some good news, we get bad news. Right now, a very good target for crude oil is 75.

It reminds us how reliant we are on imports, and with the geopolitical climate and tropical storms, we could not afford to be down for any extended period of time to meet demand.

Gasoline demand, while down from pre-Katrina levels, continues to improve.

The oil market is taking the threat seriously as Iran may have gone down the path that leads to the point of no return.

There are a lot of risks and a lot of things that could go wrong with this year's summer driving season that we've never really experienced before.

This is going to be the most confusing rollover in the history of the gas market.

Let's hope we don't have a cold winter, because if we do, I think these price projections are going to be low,

There is a lot of incompetence in the government and in the oil companies. There is a clashing of heads.

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.

From an economic viewpoint, these numbers were encouraging. Especially encouraging were the distillate numbers ... We're going to have enough oil to weather the storm.

To just focus on supply inventories, which we are constantly reminded are at an eight-year high, doesn't really take into account the complexities that face the world oil market. Eight years ago, we did not have to compete with China demand for oil. Eight years ago, the world had three times, if not more, spare production capacity than we do today.

There's a lot of interest in trading these commodities, but it used to take too much money. Now, it gives the little guy a way to get in the game.

We are not completely out of the woods yet, but we saw a lot of relief yesterday (Tuesday) and that trend is continuing,

Worries about the weather are so last year. Now the focus is turning to tight gasoline supplies. The market has priced in a mild winter so if we do get change to cold, the reaction will be explosive.

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.

Everyone had this perception natural gas was cheap and plentiful. It was a market you could set your watch by. It would run up in the winter and down in the summer. It was a very quiet little market.

The market is hopeful that we can find a diplomatic solution to get out of this crisis.

We can't get too comfortable about inventory levels because of the geopolitical situation. Demand is growing, which leaves us vulnerable to a disruption. If we lose output from a major source these ample inventories will soon be history.

Today was a golden opportunity to sell off. One would think that, with Katrina going off in a different direction, the market would, too. But it didn't.

I think we're on the way to 75. China is still growing, and available refining capacity is tighter.

Oil seems to be disappearing from the marketplace and my theory is that the U. S. is adding to its strategic oil reserves with the intention of releasing it during an attack on Iraq,

Fears are escalating that if at this rate refineries don't get back online quickly, then gasoline supplies which are currently above normal will fall to below normal.

Metals continue to move higher basically on the anticipation of strong demand.

February seems to be a month that is focused on large energy supply, but little concern with the world around us.

Analysts are already looking ahead to next week and betting on warmer forecasts. If it doesn't get as warm as we expect then next week the market will run back up.

There are so many threats to oil production right now, it'll keep prices high. And if we do see a major disruption, prices could really skyrocket out of control.

If you knock out two to three refineries with a category 4 or a category 5, and you hit them head on, you'll feel the impact immediately, and it would a while before the markets calm down. The impact of this could be worse than Katrina in terms of shutting down refineries.

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.

We've come down a lot in a short time in large part in anticipation to yesterday's inventory reports. This has been a big correction, falling to the low 60s from 69 last week, which suggests the market has gotten ahead of itself.

A Bush victory will be big for oil demand and keep prices high, ... Not only will the SPR be filled but I think they may expand it.

The IEA report yesterday and the Fed point to a limited impact by the storms on U.S. demand. It looks like the drop in production is bigger than the fall in demand.

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

This is the biggest down day for the April contract on record.

The inability to follow through yesterday and break through 58 makes it likely that we are close to the bottom.

When energy costs go up, the bills go up for consumers and it cuts into their discretionary spending. Consumers spend less on things like clothes and shoes. If gas prices escalate, that has the same effect. So retailers suffer as well.

If prices jump another 5, I think it will give the Saudis a stronger hand, but continued weakness will give OPEC hawks more power.

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.

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.