The gain in distillate was unexpectedly large, which should eventually weigh on the market. Distillate increased because a decline in demand coincided with an increase in imports.
More Quotes from Jason Schenker:
There is justification for concern about natural gas prices at these levels. Prices now are essentially twice what they were last winter. That's likely to squeeze consumers.Jason Schenker
After a couple of months of overestimating, we redid our modeling. We hope this more accurately captures what's going on in the market place.
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The Iranian situation appears to be getting worse.
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We're looking at some positive expansion, solid growth in jobs and in general economic growth, and that's something we see continuing.
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Truth be told, by the government's own study, this would have a minimal impact on price, decades in the future.
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It's tough to blame (OPEC) for higher oil prices. I think they're doing what they can,
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