Hi from the chair as they say in TV Land. I am writing to you this morning as I broadcast Live on Fox Business with Alexis Glick. What is the topic, OIL! Here I am on set this morning.
Stay tuned!

Opec’s decison not to increase production is pushing crude back up and the bullish news keeps pouring in as the ADP report seems to suggest that more people are working and that means more activity and thus more oil consumption.

Hmmmm, we will see. Also in just a bit we will get this weeks inventory report. i expect to certainly see draws in crude and distillate and maybe a slight build in gas….maybe. If we get a bullish report we could see price ratchet up to $95 plus very quickly. Q4 is the biggest time for energy consumption, there is no room for error.

Ok well strap in and hold on tight today could be wild. One last note. The most concerning comment I heard out of Opec is that they no longer have a price target….For years they lived by the Price Band Mechanism…they raised or lowered output based on the price band, now they say they don’t have one…warning sign.

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This entry was posted on Wednesday, December 5th, 2007 at 5:32 pm and is filed under Media Appearances. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.