Its very good news this time of year when the DOE releases a “favorable” report like they did moments ago at the normal 10:30am time.
Highlights:
Cons:
Refineries operated at a low (albeit slightly higher than last week) 84.7% of capacity last week
Pros:
Crude oil inventories rose by 3.2 million barrels last week. At 308.5 million barrels, [...]
0 comments Wednesday 27 Feb 2008 | Patrick | Predictions
Comment on February 19 prediction: So, the day after a price hike, NYMEX prices jump 10 cents, so you’d think we’d get another hike. No, that would be WRONG.
Saturday, February 23, 2008, 6:45PM: Estimate of wholesale price using NYMEX: $2.60. Estimate using AXXIS: $2.45. That’s quite a difference! The past several weeks, $2.40 on AXXIS [...]
0 comments Saturday 23 Feb 2008 | Ed Aboufadel | Commentary
Just got a call asking if I could verify a rumor or not…
We will not be seeing gasoline for $3.85… heck, we won’t even be seeing gas for $3.30 until *maybe* Monday, we’ll see.
Rumors like this seem to start circulating every Spring.
If you *ever* hear of a rumor of a large spike in gasoline- [...]
0 comments Friday 22 Feb 2008 | Patrick | Commentary
Before opening the DOE report today, one day later than normal because of President’s Day, I thought how much today’s report could either help or hurt. Well, after reading through all the numbers and descriptions, I think is report is some much needed good news; however, it does not come without some concerns.
My concern: refineries [...]
0 comments Thursday 21 Feb 2008 | Patrick | Predictions
Comment on February 9 prediction: We did get the hike to $3.09 as predicted. CORRECT. There was another price hike to $3.19 on February 18.
Tuesday, February 19, 2008, 8:45 PM: I am probably the last to the party to make this prediction, but let me agree that there will be another price [...]
0 comments Tuesday 19 Feb 2008 | Ed Aboufadel | Predictions
With wholesale market prices rising almost 10 cents already this morning, we will see another hike this week to 3.29-3.35, depending on if this rally holds, but I expect that it will. In fact, I see another rally tomorrow of this magnitude. I think the only thing that will slow these bulls down is the [...]
0 comments Tuesday 19 Feb 2008 | Patrick | Commentary, Predictions
