If we were able to reach a 'comfortable unease' on the Iranian situation, I think we'd see prices drop into the low $50s.
This is a situation where you've got a lot of supply on hand, leading to a drop in prices.
The economy and corporate America remain solid -- we are going to resume an upward trend and the equity market knows it very well. The sharp drop in the GDP was just a bleep.
The economy and corporate America remains solid -- we are going to resume an upward trend and the equity market knows it very well. The sharp drop in the GDP was just a bleep.
It is typical to see a slight drop in utilization in the first week of the year. This slight drop, coupled with imports, could allow for a slight crude-inventory build.