Kyle Cooper Supplies Quotations

Supplies are ample across the board. We were able to increase product supplies even with refineries running at around 86 percent, which isn't a good sign for the bulls.

Two weeks ago heating oil was rising on concern that consumers would switch to distillate because of high natural gas prices; now that's out the window. It's incredible to see natural-gas supplies rise in December.

Although the U.S. weather remains relatively bearish, the market is moving higher. There seems to be little fundamental reason for the move as Russian gas supplies to Europe are resuming. However, fear of a possible future disruption is probably a driver.

There's plenty of supply. Crude oil supplies are above 320 million barrels, which is ample to meet demand from refiners.

Inventories are actually still 7 million barrels above the three-year average. Once these refineries start cranking back up, I think you'll see supplies rise pretty quickly.

The Iranians are going ahead with their nuclear program and saying the heck with what the rest of the world thinks. They didn't say anything about cutting supplies but the market is still nervous.

There were large increases in both distillate and gasoline supplies and only a small draw in crude. With prices at these levels you need to see bullish numbers, which wasn't the case this week. Supplies look adequate.