Michael Fitzpatrick Quotes

There has only been a month's reprieve granted in addressing Iran's nuclear ambitions. - Michael Fitzpatrick

The weekly inventory numbers caught the market by surprise again. The unanimous UN decision demanding Iran stop nuclear enrichment probably rekindled concern that Iran will use oil as a political weapon. - Michael Fitzpatrick

The weather will be more seasonal over the next week but it will take much more than that to put a dent in supplies. - Michael Fitzpatrick

The weather is cooperating and helping us replenish supplies. The speculative frenzy that followed the hurricanes has cooled down. Lower refinery operating rates have led to rising crude-oil stocks as products have arrived from elsewhere. - Michael Fitzpatrick

The warm January has permitted a window of opportunity to stage an early refinery turnover, longer-term weather forecasts call for a warm conclusion to the heating season, and gasoline has been quickly rebuilding stockpiles in advance of summer. - Michael Fitzpatrick

The US is quickly skirting the winter period without a significant supply shock -- the next few days' drop below seasonal temperatures notwithstanding. - Michael Fitzpatrick

The UN-Iran conflict will recede a bit in coming sessions since the UN won't look back into the situation for 30 days. Iran now has 30 days to posture, it can issue some harsh words and in the end negotiate better terms when the deadline approaches. - Michael Fitzpatrick

The uncertainty relative to Nigeria remains a front burner issue, with more attacks taking place on Monday, but apparently the attacks did not result in any lost production. - Michael Fitzpatrick

The surprising fall in gasoline stocks and the approach of the cold are sending us higher. Also, imports contracted and gasoline demand rose. - Michael Fitzpatrick

The storm may lead to further evacuations. If the storm moves into the Gulf it will lead to a suspension of repairs and there may even be a contraction in production. We're taking no chances. - Michael Fitzpatrick

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