The weather is cooperating and helping us replenish supplies. The speculative frenzy that followed the hurricanes has cooled down. Lower refinery operating rates have led to rising crude-oil stocks as products have arrived from elsewhere. - Michael Fitzpatrick Quotes
The weather is cooperating and helping us replenish supplies. The speculative frenzy that followed the hurricanes has cooled down. Lower refinery operating rates have led to rising crude-oil stocks as products have arrived from elsewhere. Michael Fitzpatrick
 

More - Michael Fitzpatrick Quotes

Temperatures in the Northeast and Midwest were expected to remain above normal for the next 10 days. - Michael Fitzpatrick Quotes

Temperatures in the Northeast and Midwest were expected to remain above normal for the next 10 days.

Michael Fitzpatrick

 
Apparently, the market thinks that OPEC is set to simply roll over the existing production quota in the upcoming meeting. Even so, there will probably be provocative comments from both Iran and Venezuela. - Michael Fitzpatrick Quotes

Apparently, the market thinks that OPEC is set to simply roll over the existing production quota in the upcoming meeting. Even so, there will probably be provocative comments from both Iran and Venezuela.

Michael Fitzpatrick

 
The Governor of Nigeria doesn't think that militants are set to attack again soon and that has apparently prompted a little profit taking in front of tomorrow's reports. - Michael Fitzpatrick Quotes

The Governor of Nigeria doesn't think that militants are set to attack again soon and that has apparently prompted a little profit taking in front of tomorrow's reports.

Michael Fitzpatrick

 
With Iran indicating on Thursday that they would not stop enriching uranium, fears of sanctions surfaced which probably prompted fresh speculative buying. - Michael Fitzpatrick Quotes

With Iran indicating on Thursday that they would not stop enriching uranium, fears of sanctions surfaced which probably prompted fresh speculative buying.

Michael Fitzpatrick

 
Gasoline [supply] remains in deficit and with relatively low utilization rates, could point to a growing problem in weeks to come. - Michael Fitzpatrick Quotes

Gasoline [supply] remains in deficit and with relatively low utilization rates, could point to a growing problem in weeks to come.

Michael Fitzpatrick

 
Last year began with a large surplus but an unusually hot summer ate up those reserves and soon thereafter the hurricanes hit. There is still some infrastructure that was damaged, which could be a problem. - Michael Fitzpatrick Quotes

Last year began with a large surplus but an unusually hot summer ate up those reserves and soon thereafter the hurricanes hit. There is still some infrastructure that was damaged, which could be a problem.

Michael Fitzpatrick

 
While a late-winter cold snap or cool spring could whittle down some of the storage surplus, it is probably too late to prevent stocks from ending the heating season at record-high levels. - Michael Fitzpatrick Quotes

While a late-winter cold snap or cool spring could whittle down some of the storage surplus, it is probably too late to prevent stocks from ending the heating season at record-high levels.

Michael Fitzpatrick

 
Crude oil will have to fall eventually because supplies are adequate and demand is not the greatest for this time of year. You can't justify crude oil at close to $60. - Michael Fitzpatrick Quotes

Crude oil will have to fall eventually because supplies are adequate and demand is not the greatest for this time of year. You can't justify crude oil at close to $60.

Michael Fitzpatrick

 
After a mild start to the week, temperatures in the Northeast and Midwest, key gas consuming markets, were expected to cool to below-normal later this week and next week. - Michael Fitzpatrick Quotes

After a mild start to the week, temperatures in the Northeast and Midwest, key gas consuming markets, were expected to cool to below-normal later this week and next week.

Michael Fitzpatrick

 
The real dichotomy in this market is that crude inventories are very high and that could make for some violent, back-and-forth price action. For the foreseeable future, the path of least resistance remains up until there is a significant structural economic or political shift. - Michael Fitzpatrick Quotes

The real dichotomy in this market is that crude inventories are very high and that could make for some violent, back-and-forth price action. For the foreseeable future, the path of least resistance remains up until there is a significant structural economic or political shift.

Michael Fitzpatrick

 
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