“I doubt anything will come of this. But this trend's persistence shows, one, the historical dislike of the oil industry continues, and two, the American public, and most of our legislators, seem to misunderstand how markets work.”
“This seems much better organized than previous attacks. I think the response has been pretty benign when you consider the amount of oil that has been taken off the market. We are just playing catch-up with what London did yesterday.”
“There was an awfully strong reaction on Friday because if the attack had been successful it would have been a nightmare. Now the security will be even tighter.”
“Traders have been waiting to buy gasoline for a while now because of the change in specifications. There's a point when you've got to hedge and this is it.”
“There is plenty of oil in storage. At the same time we are paying a lot of attention to geopolitical events. This combination of factors is a recipe for a market that doesn't do a lot.”
