57 Quotes by Michael Fitzpatrick

The surprising fall in gasoline stocks and the approach of the cold are sending us higher. Also, imports contracted and gasoline demand rose.

Temperatures in the Northeast and Midwest were expected to remain above normal for the next 10 days.

Prices have retreated unusually fast and there is still two months left for the thermometer to drop.

After a mild start to the week, temperatures in the Northeast and Midwest, key gas consuming markets, were expected to cool to below-normal later this week and next week.

Apparently, the market thinks that OPEC is set to simply roll over the existing production quota in the upcoming meeting. Even so, there will probably be provocative comments from both Iran and Venezuela.

The weekly inventory numbers caught the market by surprise again. The unanimous UN decision demanding Iran stop nuclear enrichment probably rekindled concern that Iran will use oil as a political weapon.

The weather will be more seasonal over the next week but it will take much more than that to put a dent in supplies.

The weather is cooperating and helping us replenish supplies. The speculative frenzy that followed the hurricanes has cooled down. Lower refinery operating rates have led to rising crude-oil stocks as products have arrived from elsewhere.

There was a lot of panic yesterday as we all thought about the worst possible scenarios. The likelihood is that the worst won't occur.