David Thurtell Quotes

While Iran said last week that it would separate nuclear and oil as issues, it was only last year that it warned that oil could be used as a weapon to get its own way on the nuclear issues.

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I think we'll stay in a 58 to 66 range for the next couple of months. If prices get too weak OPEC, will just cut back.

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There was more relief in Asian trade today that Hurricane Wilma seems to be staying out of the way of Gulf facilities.

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From his language he recognizes that while higher prices are good for revenues in the short run, longer term they help destroy demand. OPEC is probably going to increase by 1 million barrels a day.

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The worry is that if prices come off a bit, demand will rebound and we've still got to deal with the Northern Hemisphere winter.

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Refiners don't want to get caught out in the next six months, with the hurricane season, Iran, etcetera. Where you'd normally expect at these high prices refiners trying to cut down on stocks, I think they're saying there's big money to be made if you've still got inventory when the hurricanes hit.

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Oil could ease back a bit today, though the hurricane season runs into November so we're not out of the woods yet. Asian demand is still pretty strong, so we're likely to see some buying if it goes much below 60.

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The market is expecting another significant jump in U.S. stocks later today, and this focus has pushed geopolitical uncertainties off to the side, for now at least.

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Provided we don't get any disruptions to supply, it looks like prices could have short-term weakness. But if we get a much colder winter, it could send prices into the sixties range again.

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There's just been too much disruption to too many parts of the whole supply chain. There's a worry that it's going to take longer to get things back.

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Peak demand for winter fuel in the northern hemisphere is what is going to be driving oil prices in the fourth-quarter.

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People are reacting to these higher prices.

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A few more refineries going on scheduled maintenance and a tapering off on imports will bring stock levels back to that seen about a year ago.

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We're at the lowest available output I've seen in maintenance season for some years.

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It looks now as if Rita is not going to go through the main refinery region. Because all these plants have closed for precautionary reasons there have been problems with gasoline supply, which drove prices higher yesterday. Still, it looks as if there's not going to be so much damage to the bigger refining sites.

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The Iranians shouldn't be underestimated. If they were to cut supply in protest, there's really not enough capacity to absorb the loss of their exports.

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The Nigerians indicated capacity could be back on line next week. That's could, not will, and the reality is we could be missing those half million barrels for some time yet.

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The Nigerian attacks have really sparked concerns about supply. People are wondering how deep is it going to go and how long will it go on for

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There's a little bit of dollar weakness, and that's giving gold a lift.

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Iran has separated the nuclear issue from the oil-export issue and seems to have ruled out retaliatory action. That may change, but what they're saying now should be having some soothing impact on the market.

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Iran will take the nuclear situation to the wire, making the market nervous. It will wax and wane diplomatically and they'll extract a price before agreeing to any deal with the west.

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The market is very vulnerable to a supply shock like this. This news will push up prices when trading starts tomorrow.

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Everything's gone wrong in the oil market recently. If you wanted to paint the worst scenario picture, you couldn't do much better.

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The market's reacting to forecasts that heating oil demand will be 20 percent below normal this week, giving refiners a little breathing room to boost supply ahead of winter.

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We can expect two months of lost production, and coming in the peak-demand period this is the worst possible news.

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