There's a fascination with crude oil, but people don't burn crude. They burn gasoline and diesel.
More Quotes from Tom Kloza:
That's a bit of an old wives' tale, a myth. Wholesale prices change every day with the exception of Sunday. The biggest price moves tend to take place on the wholesale markets on Wednesdays these days.Tom Kloza
The market is in the grip of what I would call invisible hands the investment community and the speculative community. We're going higher. It's just a matter of where.
Tom Kloza
Normally the strife and rhetoric in Nigeria are standard background noise for the industry as there are always labor issues and rebel threats in that ... country. However, this time it seems a bit more serious, and it's likely to spark a surge in prices early this week.
Tom Kloza
I can tell you traders aren't thrilled by that idea.
Tom Kloza
They're normally about 5 to 10 a barrel. Now, it's closer to 20 to 30. And that's because a lot of money is flowing in on the fear we won't have enough refining capacity this summer.
Tom Kloza
The market is treading water right now. I'm not convinced that we know about the biggest factor of all -- gasoline demand.
Tom Kloza
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