It's all weather-related. Unseasonably warm temperatures here in the Midwest and elsewhere have taken the fear out of this market, at least for the near term.
More Quotes from Phil Flynn:
It still seems the threat of losing Iranian oil is a far out issue. Today it appears traders are preparing for what could be a bearish Department of Energy weekly supply report.Phil Flynn
Of course doing nothing must be bullish as oil continues to head higher.
Phil Flynn
We've gone away from worrying about supply and are concerned that demand may be stronger than anticipated if we get an early winter and stay cold through March.
Phil Flynn
I think we're on the way to 75. China is still growing, and available refining capacity is tighter.
Phil Flynn
This is going to be the most confusing rollover in the history of the gas market.
Phil Flynn
You worry about the oil that's going to feed that spurt.
Phil Flynn
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