Tim Evans Price Quotations

The OPEC demand revision is more of a reminder than anything else. Between the high level of crude stocks and the downward revisions to demand, the price should have trouble climbing like it has done this week.

We've rung the bell at $600 and now we're perhaps ready to consolidate before we consider higher price levels.

To put that offer on the table for the next three months, it's clear to me that they're willing to steer the price lower, ... They really don't want every U.S. consumer to park their SUV and buy gasoline-electric hybrids -- they don't want to trigger that kind of consumer response.

The bulls are trying to put up a fight here, trying to make a case that the build in stocks and the drop in price over the past month haven't really hurt all that bad.

There still may be ample opportunity for price chopping off storm updates over the balance of the week, but the market is looking considerably more relaxed today.

The gasoline build is substantial and it confirms the price weakness we've been seeing over the last several days.