37 Quotes by Tom Bentz
- Author Tom Bentz
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There are just so many things going on, that I think it's going to take a few weeks to sort out all the issues and determine what the long-term fundamental picture is, ... At this point, I'm not convinced the long-term uptrend is finished.
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But the Iranian situation hasn't gone away. So $62 crude is probably not a bad value, and people see that as a buying opportunity.
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We got a bigger-than-expected decline because offshore production is still down by more than 50 percent and imports were down. The shock of Katrina is still being felt.
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We certainly can't stand another storm, ... That's why people are watching the storms out there now.
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We saw some late short-covering today. Once everyone realizes the downside is done, we'll bounce back next week and trade back around $11.
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Could it go back to the record? Basically it goes without saying.
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The short-term trend is down. The market finds it hard to muster any upside momentum. When it became clear we weren't going to get above $60 the mass selling started again.
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Products were strong, with the refinery maintenance season in full swing keeping the Gulf Coast gasoline cash markets very strong.
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Demand is snapping right back. Even with the high prices, there hasn't been that big an impact on demand.
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