Thursday 06 Nov 2008 | Posted By
Patrick |
Predictions
I don’t like to be bearer of bad news, but I believe we are approaching the lowest gasoline prices we’ll see for a while. While gasoline prices usually "bottom out" in late November and early December, I believe with the dramatic fall in prices and negative profit outlooks for refining gasoline, it will result in [...]
Friday 24 Oct 2008 | Posted By
Patrick |
Predictions
WRITTEN THIS MORNING (OCT 24, 7AM)
This morning OPEC convened and arrived at a decision to cut 1.5 million barrels of oil per day. Many of you are likely asking what we can now expect and what will happen. Let me try to shed some light for you.
It will be an interesting day on the market, [...]
Tuesday 14 Oct 2008 | Posted By
Patrick |
Predictions
As of late, oil and gasoline have been virtually tied to the Dow as we look to economic woes as reasons to sell-off gasoline and oil contracts. With the Dow finally putting together a noteworthy rally, gasoline and oil both surged.
With a gain in wholesale prices along with much tighter Midwest supplies, we can expect [...]
Wednesday 10 Sep 2008 | Posted By
Patrick |
Commentary
First off: Read this post thoroughly if you want to find out WHY prices are justified.
A brief thank you to Tom Kloza for taking the time out of his day (Publisher @ OPIS) to respond to a few questions I had.
I now understand and can say that I know why Grand Rapids (and all of [...]
Thursday 04 Sep 2008 | Posted By
Patrick |
Commentary
News this noon from WSJ that oil companies may have reported false oil inventory levels to benefit their positions:
The U.S. futures market regulator is investigating whether companies are reporting false oil inventory levels to benefit their trading positions, The Wall Street Journal reported on Thursday.
The paper, quoting people familiar with the probe, said the Commodity [...]
Wednesday 20 Aug 2008 | Posted By
Patrick |
Predictions
Ouch! What a terrible DOE report today, looks like large losses in gasoline stockpiles is becoming the norm. I’ll keep this short today so that I can enjoy just a little bit of vacation.
The DOE report as said was pretty rough for gasoline consumers. While oil inventories rose an amazing 9.6 million barrels, gasoline dropped [...]