John Kilduff
John Kilduff
efforts power recovery
Remember, the power outages are what bedeviled recovery efforts after Katrina,
below break close july key looking near next term
We will be looking to see if we can get below $59.30, which is key support. In the near term $56.30 is the target. It's close to the July low and if we can break below that we will next be looking at the $46 area, which is the May low.
buying cover elsewhere four iraq market positions shut situation taking
There's pre-holiday buying taking place. In Iraq and elsewhere things are percolating. The market will be shut four days, and in this geopolitical situation it makes sense to cover positions and bets.
late selling wave
There was a late wave a selling at the end of the day.
dollars four gasoline high higher prices realm telling
There's no telling how high prices of gasoline prices could go, at least for a time. Four dollars or higher is not out of the realm of possibility.
bit downward range stuck
We're stuck in a little bit of a range right now ... we're still in a pronounced downward channel.
amount few gasoline market next oil prevent products refined remain time
A significant amount of refined products will remain off the market for some time to come, and will prevent heating oil and gasoline stockpiles from being replenished, at least for the next few weeks,
disappoint extent reports
To the extent that those reports disappoint us, you may see rebounds.
barrel grind higher oil spike ultimate
We're forecasting oil will grind higher up to $33, ... with an ultimate spike up to $40 a barrel on the outbreak of hostilities.
generate left speeding time winter
With winter speeding by, there isn't much time left to generate significant demand.
approach average caused gasoline levels national past prices record several
We are at levels that in the past several years had caused gasoline prices to approach the $1.70-type national average record levels.
driving gasoline season summer supplies worries
Worries about gasoline supplies during the summer driving season are fading.
demand discourage drivers helping high louisiana obviously partly parts prices road
Demand was down nationwide, partly because drivers were off the road in parts of Louisiana and Mississippi because of Katrina, and obviously because high prices are helping to discourage demand.
damage demand fears high hurting katrina oil prices
Demand destruction fears are trumping fears about damage to oil facilities. It's not just Katrina that is hurting demand. High prices have strained economies, especially in Asia, and demand is being curtailed as a result.