42 Quotes by Tetsu Emori
- Author Tetsu Emori
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Everyone's just looking at Rita. It's more psychological right now. But if Rita comes to the Gulf of Mexico and disrupts supply, then we have a problem.
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The situation has completely changed since the beginning of October.
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The supply of oil is still ongoing; most people feel there won't be a disruption, so they're taking profit now, especially after Friday's sharp increase.
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Temperatures in the U.S. are not as cold as we expected. Stockpiles seem adequate for the moment.
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Production in the Gulf has risen dramatically and refinery input has also risen, these are good selling factors.
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People don't like to take any position before Christmas. Most people are thinking prices will be sustained at this level for the time being.
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After some profit-taking, we are now waiting for the inventory data. But the Nigerian crisis remains a serious issue.
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The oil market is now down because most people are taking profits after seeing a sharp increase last week.
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Oil may peak during the hurricane season in August or September. Economic growth will add to tightness in supply.
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