Tony Nunan Prices Quotations

If statistics show any signs of bullishness, prices will go higher. Technically, the market wants to test $65 a barrel.

Last time, the market could handle uncertainty as there was a lot of slack but now because prices are so high, the market is not equipped to handle unplanned events.

The scary thing is that the hurricane season is not over yet... so I don't see prices coming down.

Even if there is a stock draw, unless it is substantially and unexpectedly high, I would not expect prices to go up above $60 as the near-term market is still heavily weighed down by high inventory levels and the warmer weather.

It's a crazy market. Prices look strong one week because of the draws (declines) in gasoline. If we get another big draw this week, the market will be even stronger.