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Kyle Cooper in Wikipedia
(This report is a) little bit bearish in terms of expectations.
The market is lower as weather forecasts are considered rather bearish through the middle of the month.
Distillate inventories were up slightly but are not rising at a normal pace, so that is a little bit concerning.
The last time inventories were this high was in early 1999 when prices were below $20 a barrel. OPEC wants prices to fall. Saudi Arabia and other members remember that when prices spiked in the 70s there was a rash of investment and they lost a lot of market share for a long time.
The Iranians are going ahead with their nuclear program and saying the heck with what the rest of the world thinks. They didn't say anything about cutting supplies but the market is still nervous.
It is the creative potential itself in human beings that is the image of God
(October 16, 1928 - January 03, 2010)
Bankers are just like anybody else, except richer
(August 19, 1902 - May 19, 1971)
One must never have spared oneself, one must have acquired hardness as a habit to be cheerful and in good spirits in the midst of nothing but hard truths.