“The underlying fundamentals are so tight that we always have to be concerned about the worst-case scenario. Last year, Ivan cut production by 1 million barrels a day and although that's not likely, it has to be taken into account.”
“The Houston area is ground zero of the refining industry. If it suffers the scope of damage caused to refineries in Louisiana by Katrina, we could see rationing and queues at the gas pump.”
“The Houston area is ground zero of the refining industry. If it suffers the scope of damage caused to refineries in Louisiana by Katrina, we could see rationing and queues at the gas pump. This is something OPEC can't do anything to remedy.”
“Distillate supplies rose and that's the critical number. Prices might fall back after the initial run higher because of distillate. The weather's been warm so it's not a huge surprise. It's still great to see an increase like that at the beginning of winter.”