James Williams Crude Quotations

If this Russia/Ukraine problem reduces natural gas to Europe there will be some fuel switching there. Higher demand in could Europe drive up crude prices worldwide.

Lower withdrawals than most estimates -- at 20 billion cubic feet -- are bearish for gas, but the concern about the Nigerian supply of crude and the reaction to the Iranian situation could result in crude giving gas some support.

Katrina has already had twice the price impact of Ivan on crude oil.

Crude oil, gasoline and distillate stocks remain above the five-year average. We have all the crude we need.

The inventory gains were on the high side of expectations and all of the fundamentals point to lower prices as crude stocks, as well as all the major petroleum products, are well above the high end of the normal range.