Michael Lynch Supplies Quotations

We've clearly been getting support from the weather. Crude oil, distillate and gasoline supplies are all higher while demand is lower. There really isn't a bullish cloud on the horizon.

Crude oil and petroleum product inventories are robust. The numbers suggest that fears that gasoline supplies would fall through the floor as refineries performed maintenance were exaggerated. Some of the funds may be selling as they re-evaluate the value of futures as an investment.

All you need is a little hoarding to cause regional shortages, ... This is what we went through in the 1970s when motorists rushed to filling stations and filled tanks because they feared supplies would run out.