74 Quotes by Peter Beutel

It does appear we've turned the corner here in this market. They're reacting to the fact that there was less damage than expected, rather than the amount of damage that did occur. Yes, it's going to take time to repair these refineries, and yes there will be at least one day we'll see prices run up. But I think we've probably seen the highest gasoline prices behind us.

We're already in the position where every refinery unit is vital just to meet demand. We don't have any spare capacity. That's what it makes it so critical.

We are looking at prices dramatically higher than a year ago in some cases.

Traders remain extremely nervous about gasoline supplies, especially with the switch to ethanol nationwide.

You don't make a top when things start to look bearish; you make it when things look bullish,

We don't know how much of the refinery is down or for how long. But not to negate the human tragedy, it happened at the worst time of the year seasonally. And it happens at a time the market is nervous and looking for reasons to go higher anyway.

The factor that's moving prices higher is the overarching petro-political fears. This market has a lot on its plate this week.

With another storm threatening the half the Gulf that avoided Katrina, it has traders spooked this morning,

With oil stocks so low, there's a huge amount of concern.