29 Quotes by John Kilduff

There's pre-holiday buying taking place. In Iraq and elsewhere things are percolating. The market will be shut four days, and in this geopolitical situation it makes sense to cover positions and bets.

There was a late wave a selling at the end of the day.

There's no telling how high prices of gasoline prices could go, at least for a time. Four dollars or higher is not out of the realm of possibility.

Prices are going to be driven directly by the projected path of the storm,

Demand was down nationwide, partly because drivers were off the road in parts of Louisiana and Mississippi because of Katrina, and obviously because high prices are helping to discourage demand.

Demand destruction fears are trumping fears about damage to oil facilities. It's not just Katrina that is hurting demand. High prices have strained economies, especially in Asia, and demand is being curtailed as a result.

Apparently, the market does not believe a turn to colder temperatures will boost heating demand enough to make a significant dent in supplies. Obviously some other supply disruption may have to occur to take the pressure off prices.

The moderate weather is really helping push prices lower, ... There are no signs that OPEC will cut back on output, which has jumped to near records. As long as the oil keeps coming and demand languishes, I see no reason for prices to rise.

This isn't enough to break the back of high oil prices.