Given OPEC's decision to keep quotas unchanged, Iranian guarantees of oil supply and U.S. statements excluding the possibility of oil sanctions, crude is poised to fall next week.
More Quotes from Jason Schenker:
OPEC's statements and quota decision announced at the beginning of next week could exert a somewhat bearish impact on prices.Jason Schenker
People are waiting for the shoe to drop. Which shoe it is doesn't matter. They just want it to be done.
Jason Schenker
A correction seems likely if we don't see a further intensifying of the geopolitical crisis. There will have to be further headlines for prices to move higher.
Jason Schenker
Massive inventory declines in crude oil are part of a three-month trend, heating oil prices continue their relentless rise, and the supply disruption premium is in full effect. This may only be the beginning the winter oil bull run has begun.
Jason Schenker
The real shocker is that there was a build of natural gas at this time of year.
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
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