If the rise in imports and utilization manifest this week continues next week, it could apply some downward pressure. Of course, any decline in petroleum prices would be predicated on the notion that the Iranian geopolitical situation remains relatively quiet.
More Quotes from Jason Schenker:
Strong continued gross domestic product growth and solid employment gains should fuel further home sales and may mitigate some of the slowing engendered by higher interest rates.Jason Schenker
Next week is a huge week for data, and it is likely to show continued economic growth and inflation well under control.
Jason Schenker
I totally expect to see 50 a barrel, at least in a spike to that level, at some point in the near future. We've been in an upward trend for several years, and I really don't see any indication of a reversal of that trend. 50 a barrel is a completely rational expectation.
Jason Schenker
The ISM service survey joins a number of economic indicators that have shown robust economic resilience in the wake of Katrina and Rita,
Jason Schenker
The month-over-month increase at 0.4 percent was the swiftest rate since January 2005. The implication is that core inflation may be rising.
Jason Schenker
In the near term, the overall health of inventories is likely to be important.
Jason Schenker
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