Quotes from the news wire:
And with the OPEC production cuts, you're running out of reasons to be short.
Found on Reuters 4 years ago
The stock market being strong coupled with the big drawdown that we had from the API is giving us the momentum that we have right now, and with the OPEC production cuts, you're running out of reasons to be short.
Found on Reuters 4 years ago
It looks like President Donald Trump got his trade deal just in time for Christmas.
Found on Reuters 5 years ago
The overall economic feelings (in the U.S.) are pretty good and that should see improved demand going forward.
Found on Reuters 5 years ago
The oil market is fixated on macro-economic issues and not necessarily current supply or demand.
Found on Reuters 5 years ago
So far, it doesn't look like there will be a military response.
Found on Reuters 5 years ago
The question is can they convince the market that they can keep their oil fields safe.
Found on Reuters 5 years ago
The death of the global economy has been greatly exaggerated and the market is starting to realize that.
Found on Reuters 5 years ago
If we get the drawdown in (U.S.) inventory that most people are looking for, that is going to get the market a lot tighter.
Found on Reuters 5 years ago
The possibility that the United States and China can get the trade talks on track ... is raising hopes that they might actually get some type of deal, that's why we are seeing this big rebound in prices.
Found on Reuters 5 years ago
The Saudis will need a higher price for oil for its IPO, and this confirms they'll do whatever it takes to get oil prices up.
Found on Reuters 5 years ago
The trade war is going to increase the odds dramatically that the Fed is going to have to cut rates again, maybe twice this year.
Found on Reuters 5 years ago
Brent is pricing in more of the geopolitical risk than WTI.
Found on Reuters 5 years ago
All the major reporting agencies are reporting that demand is going to be weaker, that has played into the market malaise. Things we would normally rally off of, we're not.
Found on Reuters 5 years ago
What we've seen is global central banks are ready to respond to a slowdown in the economy, in the U.S., if that's the case, we're going to see more stimulus added to the market.
Found on Reuters 5 years ago
The market is taking a pause as it tries to digest mixed reports that give us different ideas of future supply and demand, the OPEC-plus meeting could give us a little direction.
Found on Reuters 5 years ago
The GDP missing a little bit psychologically was a warning sign that China is doing OK now, but not quite as strong as expected.
Found on Reuters 6 years ago
That basically took the wind out of the sails from the market, but it isn't unlike anything that they've said before. But it all depends on which countries they're talking about. Is it big buyers of Iranian crude? Is it India? ... Is it temporary waivers?
Found on Reuters 6 years ago
That basically took the wind out of the sails from the market, but it isn't unlike anything that they've said before. But it all depends on which countries they're talking about. Is it big buyers of Iranian crude? Is it India?...Is it temporary waivers?
Found on Reuters 6 years ago
The expectation that we'll see more crude out of OPEC and that supplies in the U.S. will be tight because of the Syncrude outage ... is going to keep the market on edge.
Found on Reuters 6 years ago
The expectation that we'll see more crude out of OPEC and that supplies in the U.S. will be tight because of the Syncrude outage… is going to keep the market on edge.
Found on Reuters 6 years ago
It seems that somebody in the central bank is taking notice of the big drop in oil prices and sending a signal of, 'Hey, wait a second. We don't want these prices to fall too far,'.
Found on Reuters 6 years ago
There's more concern on the Brent side that supply losses from Iran are harder to be made up.
Found on Reuters 6 years ago
It seems that somebody in the central bank is taking notice of the big drop in oil prices and sending a signal of, 'Hey, wait a second. We don't want these prices to fall too far - that could pose a risk to the Russian economy'.
Found on Reuters 6 years ago
A 5.8 million-barrel build is kind of like a slap in the face, where it's like, 'Where did this oil come from?' And as you look through the numbers, it doesn't make a lot of sense, it is definitely a shock to the system.
Found on Reuters 6 years ago
Trade is positive for energy demand, if we get into a trade war, it could potentially slow economic growth.
Found on Reuters 6 years ago
U.S. oil prices have flip-flopped on a strong dollar, brent is pricing in the idea that all the risk to supplies is overseas - there's a concern that all the supplies that are tight in Europe are only going to get tighter.
Found on Reuters 6 years ago
The expectation that there's going to be a drawdown in crude stocks this week is keeping the market very tight.
Found on Reuters 6 years ago
It's always the case a day after a big rally or sell-off for people to feel it was overdone.
Found on Reuters 8 years ago
People are worried crude production will come roaring back at these prices.
Found on Reuters 8 years ago
People are now realizing that this OPEC meeting could be a historic turning point for the market, now, with U.S. production cuts, our sense is that we're entering a new cycle upwards.
Found on Reuters 8 years ago
People in New York City couldn't find their car, so this was probably a one-off.
Found on Reuters 8 years ago
It's more confirmation that oil producers are close to achieving some kind of a deal on price support, it's feeding bullish sentiment into a market that's turned 180 degrees from where it stood just weeks ago.
Found on Reuters 8 years ago
I think you're going to see more capital spending cuts - it usually happens when prices start to bottom out, it's significant that the market is now reacting positively to positive news, which means some of the fear is now starting to subside.
Found on Reuters 8 years ago
The Saudi-Iran standoff is certainly one to worry over given its ramifications for oil supply, but the equity markets selloff is more pressing and difficult to ignore because of the impact of China on the global economy and overall demand for oil.
Found on Reuters 8 years ago
Weak industrial data in China and Japan is causing even more demand concerns [for oil], oil may also be seeing some pressure from the fact that the Iraqi army has taken back the city of Ramadi from ISIS forces. ..the crude oil market is also seeing pressure due to talk of Iranian oil coming back on line. Oil Minister Bijan Namdar Zangenesh is claiming that they plan to export 500,000 barrels a day within a week after sanctions are removed.
Found on FOX News 8 years ago
The overarching concern in this market is the growing inventory levels for crude, and that doesn't seem to be easing despite the strong refinery runs we've been having.
Found on Reuters 9 years ago
It's a huge number, it shows you that drivers are being inspired by the low prices. It also shows you that the economy may have bottomed out and is on the uptick.
Found on Reuters 9 years ago
China's drop pushed everything lower and now we'll see if the bounce by U.S. stocks after the early pull back can stop the slide.
Found on Reuters 9 years ago
The question is how long will it continue to rise, with oil prices dropping to around $40, at some point we will see a fallback in rig counts.
Found on Reuters 9 years ago
Crude was already lower on concerns about the global economy and the rig count added to the negativity.
Found on Reuters 9 years ago
With rig counts lower, we are going to test $50, but I suspect we'll snap back shortly.
Found on Reuters 9 years ago
The gasoline inventory number disappointed and then the market also refocused on Greece and Europe's situation and the potential for demand to be hit.
Found on Reuters 9 years ago
The demand for gasoline has been stronger than expected, and we are seeing stronger RBOB (gasoline) futures, americans love low gasoline prices, and when gasoline prices fell, coupled with a growing economy, we are going back to our old habits.
Found on Reuters 9 years ago
It's dollar play all over again today, the fact that the oil market is oversupplied is a given, so the only real variable now are currency moves and how they impact commodities demand.
Found on Reuters 9 years ago
The Fed could trump the EIA, especially if they cease using the word 'patient' in line with any potential rate hike. The dollar could go gangbusters on that, and pretty much all commodities, including oil, will be impacted.
Found on Reuters 9 years ago
The ship channel opening allows crude to get to refineries and the expectation is that with margins strong, refiners will produce as much as they can.
Found on Reuters 9 years ago
The strike news is mainly psychological in that it hasn't yet had a big impact on production, but a settlement would soothe concerns about the possibility the strike could eventually hurt output.
Found on Reuters 9 years ago
On the face of it, this executive order should have been bullish if anything to oil, if it impedes oil moving of Venezuela in any way, but Venezuela is such a basket case that people tend to worry about so many other things concerning that country, and that's possibly what caused the market to go down.
Found on Reuters 9 years ago
Naturally, when prices fall that much within that short a time, you're likely to have a severe rebound as well, though speculators are possibly adding more fuel on the way up now.
Found on Reuters 9 years ago
Naturally, when prices fall that much within that short a time, you're likely to have a severe rebound as well.
Found on Reuters 9 years ago
The truth of the matter is that after this newest record high in crude inventories, it's probably going to be outside forces like the dollar, stock market and economic data which will determine if oil prices continue to go up or pull back.
Found on Reuters 9 years ago
There's no doubt that we have a combination of supplies hitting their zenith at a time when demand is weakening.
Found on Reuters 9 years ago
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