Peter Beutel Quotations

There's some apprehension about the report. If we don't see an increase in distillate inventories, traders are going to ask when we will before winter.

There's some apprehension about the report, ... If we don't see an increase in distillate inventories, traders are going to ask when we will before winter.

It's a combination of petro-political fears. It's such a nervous market.

OPEC hawks are still concerned that demand could drop dramatically during the second quarter. But with there being a number of threats to supplies, the cartel did not feel it made sense to cut output.

People are not paying very close attention to it, ... At this point this market is just living and dying with every twist and turn of weather report -- we'll probably revisit it later but it's not important until we get Rita out of our systems.

The very fact that it was ignored is further proof that we are now in a bearish market. We feel that we may have kicked into a new gear on the downside.

I think that's going to keep (gasoline and oil) prices from dropping dramatically.

Last week's report showed builds in all three major categories, but we aren't expecting this week's report to be as bearish.

It's less than 30,000 barrels a day in a country that consumes 21 million. That's not even rearranging a single deck chair on the Titanic. But psychologically, it has some effect.

It's going to take a long time before we know exactly how to look at this, what effect Katrina is having long-term. I would like to say for now at least the worst is behind us. What tomorrow brings, particularly on the weather front, remains to be seen. We're still in a tight situation.