Gerard Burg Quotes

We see prices continuing to rise during the year but the real question is whether we have pushed up a bit too high with speculative interests. I wouldn't be surprised if it came off a little. - Gerard Burg

We saw last year just how much oil shot up after Ivan... Crude markets remain delicately balanced and if Katrina causes substantial damage to production facilities, oil prices will exceed $US70 and could push toward $US80 a barrel. - Gerard Burg

This is really much more important than OPEC supply as their spare capacity is largely heavy and sour and the real shortage is capacity to upgrade such fuels anyway. - Gerard Burg

These concerns also led to a reduction in speculative long positions in the futures market, resulting in less speculative support for spot prices. - Gerard Burg

There is a bit of a time-lag in all this, but a prolonged cool spell should see a real impact on heating oil stocks, which until now have been robust. - Gerard Burg

Then there's Nigeria, also bubbling along, and no short-term view that things there will resolve themselves. - Gerard Burg

The upward revision in prices is made tentativelygiven the lack of fundamental support for current high prices and the traditional volatility of speculative funds. - Gerard Burg

The reality is that if there was any attack on Iran, there would certainly be a major disruption to supplies. - Gerard Burg

The path of Rita really spared most of the damage to refineries that was the concern. There's still a lot of pressure on the market, particularly due to tight capacity. - Gerard Burg

The market is not really factoring in the true impact of military action but the mere mention of it sends prices higher. - Gerard Burg

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