Phil Flynn Oil Quotations

We're seeing a lot of profit-taking in products - heating oil and gasoline - ahead of the weekend.

Of course doing nothing must be bullish as oil continues to head higher.

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.

If that happens, it's going to be a challenge to meet oil demand in this country.

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.

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.

With less than 2.0 million barrels of spare production capacity, even with higher-than-average supply of oil, the margin of error in the world oil market has never been thinner. And with worries about possible supply disruptions in Iran, Nigeria and Venezuela and another hurricane season ahead of us, traders are betting that it's likely something is going to go wrong.

The oil market once again has been pulled out of potential obscurity by another host of geo-political events.

The correlation between high oil prices and stocks has not been day-to-day. Sometimes the stock markets can ignore high prices, and the big debate is when will the prices get so high that they hurt the economy.

The market thought that, with extremely warm temperatures in the Northeast and refiners pumping near capacity, heating oil supplies would go through the roof,