42 Quotes by Gerard Burg

It's not surprising crude fell after such a strong rise in gasoline stocks. Once again it highlights that the fundamentals are really pretty weak.

It's not out of the question that 80 dollars could be the next barrier if there's long-term damage.

Then there's Nigeria, also bubbling along, and no short-term view that things there will resolve themselves.

It's the constant talk of attacks and military action that are heightening tensions again and helping push up prices. We should see a bit of a rebound in Chinese consumption this year. The market is going to remain very tight.

Even with this weather it's not been enough to drive prices considerably lower. Once again we've got that overhanging thought that things could turn colder again and the supply situation still isn't that good. That's supporting prices where they are.

The big positive there was that refinery utilization appears to be on the rise now. The main one coming back on line was the BP Texas City refinery, so with that one coming back we should see further increases over the next few weeks.

The big increase...is the pension funds that have been coming in.

The upward revision in prices is made tentatively given the lack of fundamental support for current high prices and the traditional volatility of speculative funds.

Again it's the story of gasoline inventories ... providing a bit more support for prices.