Some of the vibes out of the U.S.-China talks are positive again and that's certainly what's fuelling the stock market, so oil is benefiting from it. John Kilduff More Quotes by John Kilduff More Quotes From John Kilduff Cushing inventories did rise, taking away some of the strength of the headline drawdown figure, the refinery utilization rate, slightly below, at 90 percent is not all that supportive for crude oil demand, and crude oil imports were not that strong again. John Kilduff energy Between the Canadian wildfire and the regime change in Saudi Arabia, there is a pronounced amount of uncertainty now, in commodities, you buy uncertainty. John Kilduff business To a certain degree, this reduces the economics of storing oil for later delivery, it's also feeds the idea that the supply-demand balance is swinging the other way, from surplus to tightness. John Kilduff energy The population has dwindled to almost nothing. Options were only holding on. John Kilduff energy It certainly looks like the bulls had shot themselves in the foot ahead of the rally, as we were in risk-off mood until Wednesday when oil and commodities were off-favor, that said, the price rally since looks kind of overdone too, as we still have record inventories in crude oil, regardless what near-term bullish factors show. John Kilduff energy I expect a $ 3 discount in WTI to Brent by next week, and that to possibly build to $ 5 or $ 6 in coming weeks or months. John Kilduff energy The low pump prices are stoking gasoline demand, the crude oil inventory situation is set to worsen by a lot, given the sub-85 percent refinery run rate. John Kilduff energy The rise in gasoline and distillate inventories will weigh on the complex further and should keep a lid on any rebound in crude oil prices from the surprise drawdown. John Kilduff energy The Iranians are clearly stepping it up to battle for market share in Europe. John Kilduff energy The Iranians are clearly stepping it up to battle for market share in Europe where the Russians, Saudis and even the first batch of U.S. exports have gone to, so it's a battle royale. John Kilduff top-news As big as the crude oil drawdown was, the build in gasoline was even more spectacular and crushing to the market. John Kilduff energy You can talk all you want about oil demand being better next year and beyond, but right now we have a heck of a glut on our hands that I think has to be priced in some more. John Kilduff company-news The part of the report that continues to amaze is the domestic production number, which showed a small rise, despite the ever-plunging rig count. John Kilduff energy The large crude oil inventory build, driven by a drop in the refinery utilization rate, makes for a bearish report. John Kilduff energy The report is mixed in that it is bearish for crude oil, but somewhat supportive of refined products, crude oil imports rebounded markedly and refinery utilization fell again, allowing for the substantial crude oil inventory rise. John Kilduff energy The report is bearish, with the focus squarely on crude oil and the large increase in overall inventories, due mostly to a surge in imports. John Kilduff energy The report was marginally bullish due to the large crude oil inventory decline and the robust gasoline demand. John Kilduff energy The crude oil inventory rise was driven by a strong rebound in crude oil imports, which neared 8 million barrels per day. John Kilduff energy Seems like there is volatility with the U.S. August contract set to expire and the weak equities are not helping either. John Kilduff energy The decline in refinery utilization is also bearish for crude oil price, since any diminution in demand will cause the recent trend of crude oil inventory declines to reverse. John Kilduff energy
