Tensions are so high in that region with the impending Iran-U.S. nuclear deal that any event implied to be U.S.-linked has an immediate effect on oil prices. John Kilduff More Quotes by John Kilduff More Quotes From John Kilduff 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 The report is squarely bullish due to the large crude oil inventory drawdown, which confirmed the API data from last night. John Kilduff business The further decline in crude oil inventories and the high refinery utilization rate, despite the slight decline, makes for a mostly bullish report, the strong refinery demand and gasoline demand are the key items in the report, creating a bullish conclusion. John Kilduff energy We have come up a long way in a short time, people will ultimately realize that prices above $60 a barrel are going to reopen lots of idled oil rigs, meaning more supply. John Kilduff energy Gasoline demand is summer-like at 9.0 million bpd, and the plunge crude oil imports, obviously, exaggerated the crude oil inventory drawdown. John Kilduff energy The large rise in gasoline inventories was unexpected, and it is the most important element of the report due to the impending driving season focus. John Kilduff energy It's a push and pull situation with the Yemen tensions giving Brent support while U.S. prices get pulled down as people steel themselves for another inventory rise next week. John Kilduff most-read-articles Speculation over storage capacity limits will only increase. John Kilduff energy The market certainly seems to have jumped on the latest Iran news, after earlier pricing in a nuclear deal and removal of sanctions. John Kilduff business The supply dynamic will be reinforced by the inventory reports and the data are simply too compelling to ignore, and it has consistently undermined the recent rallies. John Kilduff most-read-articles There is the notion that a bottom has been set at $55 for Brent and $45 for WTI, and there are enough buyers out there each time the market tests those levels. John Kilduff business King Abdullah was the architect of the current strategy to keep production high and force out smaller players instead of cutting. John Kilduff energy The fear of the unknown is going to be supportive to crude oil prices, king Abdullah was the architect of the current strategy to keep production high and force out smaller players instead of cutting. John Kilduff business I think what's going to be telling here is to highlight how bearish the complex is, if King Abdullah being ill couldn't get a rally going, I doubt a small refinery fire at the Lima refinery will have any impact, either. John Kilduff us-news The market clearly got a little overdone to the downside and now it's coming back up, proof that there will be a response from the shale patch to these low prices, several shale companies are already reporting capital expenditure reductions next year as their profit margins get thinned out. John Kilduff business WTI could certainly be down a couple of dollars more next week, and test newer lows from there. John Kilduff most-read-articles There's a notion that yesterday's selling was overdone, but not everyone is fully back to work yet after Thanksgiving, wTI could certainly be down a couple of dollars more next week, and test newer lows from there. John Kilduff company-news It's pretty clear from today's meeting that the Saudis don't want a cut and there's not going to be one. John Kilduff most-read-articles
