The supply disruption premium has overwhelmed fundamental physical supply in the marketplace as issue number one.
More Quotes from Jason Schenker:
With gasoline futures at records a nationwide average of 3 at the pump is likely in the near-term.Jason Schenker
The stock market is reacting to the strong earnings reports we've seen earlier today. But sooner or later, companies may have to start passing through the increase in energy costs or be hurt by it.
Jason Schenker
Supplies are pretty lush. Once this report is digested we should see a big decline in prices. The geopolitical concern and economic growth are still there in the background supporting prices.
Jason Schenker
Markets were caught off-guard by a blow-out trade deficit, ... This could affect growth.
Jason Schenker
Whether we hit it today or next week, I don't really think hitting 50 is going to give us a downturn.
Jason Schenker
It is typical to see a slight drop in utilization in the first week of the year. This slight drop, coupled with imports, could allow for a slight crude-inventory build.
Jason Schenker
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It would be nice to say the rich people, the fancy people, all behaved like bastards and the poor slobs all came through like heroes. But as a matter of fact, sometimes the poor slobs behave like slobs and the great, noble, privileged characters come off very well, indeed.
Walter Lord
But he who dies in despair has lived his whole life in vain.
Theodor Adorno