Sam Tilley Oil Quotations

Sugar is going ballistic because of the oil price. As oil prices go higher and higher, the only real alternative at present to gasoline is ethanol.

Sugar is going ballistic because of the oil price.

traders switched focus from a fall in crude inventories to a general surplus of oil and signs of falling demand.

With a massive shortfall in gasoline a strong possibility in the next few months and the hurricane season still active, we at least expect product prices to be supported for the time being even though oil and gas facilities are starting up again.

The major concern is that there is no spare capacity to make up for any drop in oil supply from Iran, a fact that the country's leaders know and which enables them to be bolder than usual.

Despite the relative high stocks of crude and oil products in the US, the market remains supported by the concerns about Iran reducing exports, either voluntarily or because of any sanctions imposed.

Referring the issue to the UN Security Council moves Iran a step closer to possible sanctions, which despite Iran's claims otherwise could lead to Iran halting its oil exports.

There's some nervousness about the hurricane, that it might slow imports, and concern that gasoline and heating oil stocks might fall more than expected.