Fundamentally, we do have enough oil right now, and we have enough products. We may not have enough in future if we get this cut-off because of possible economic sanctions against Iran. Read More >
The initial euphoria that the world didn't end was followed by the hard reality that ... these refineries are going to be down for a while. Read More >
Gasoline is definitely the weak sister. As long as we can hold above 24 days of supplies, we'll have no trouble going into the summer. Read More >
Not a drop of crude oil production has come back in the Gulf. It's going to take weeks and maybe months rather than days to get the industry back on its feet. Read More >
The most temperature-sensitive products are the gas and the heating oil and that's what's moving the market. Read More >
If we manage a major correction now we maybe could get down to $65.50. The only thing that could give us a big pull back would be if Iran blinks and says it's going to stop its uranium enrichment. And I don't see that happening. Read More >
There's less crude being run now through refineries than there is loss in production in the Gulf. We're estimating refinery runs are down about 2 million barrels a day while crude out of the Gulf is down a million and a half. Read More >
They're not going to resolve it unless there's a last minute deal done with the Russians. The Mullahs in Iran want a nuclear capability and that's why they have to be stopped. Read More >
If we get another increase in refinery runs like we got in last week's numbers we may get a sell-off. Read More >
Everybody expects it is going to be bad but nobody really knows. Guesses range from a draw of 10 million barrels on crude to 9 million barrels on gasoline. Read More >
We're not going to have anything firm from the UN on Iran, maybe for months. Tensions will stay high, maybe for two or three months, and that may drive prices higher. Read More >
