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adn.com: Business (Free subscription) | yesterday
... mirroring oil's slide?A. "Because they didn't go up high enough in the first place," explains Phil Flynn, an expert in oil contracts for Alaron Trading in Chicago. "The truth of the matter is when crude oil went up to $147 a barrel, the refiners weren't able to pass on the entire cost of crude at the pump."In mid-March, oil prices were just under $100 a barrel and gasoline stood at...
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NewsObserver.com - Business (Free subscription) | 09/05/2008
... prices mirroring oil's slide?A: "Because they didn't go up high enough in the first place," said Phil Flynn, an expert in oil contracts for Alaron Trading in Chicago. "When crude oil went up to $147 a barrel, the refiners weren't able to pass on the entire cost of crude at the pump."In mid-March, oil prices were just under $100 a barrel, and gasoline stood at an average of $3.27 a...
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San Diego Union (Free subscription) | 09/04/2008
... to have victims when a market comes down this fast. People stayed at the party for too long,” said Phil Flynn, energy analyst at Alaron Trading Corp. in Chicago. As commodities prices soared into the stratosphere in the first half of the year, hedge funds and other big institutional investors plowed money not only into oil, gold, copper and corn, but also into more obscure assets...
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Philadelphia Inquirer (Free subscription) | 09/04/2008
... with hard assets."You're always going to have victims when a market comes down this fast," said Phil Flynn, energy analyst at Alaron Trading Corp., of Chicago.As commodities prices soared into the stratosphere in the first half of the year, hedge funds and other big institutional investors plowed money not only into oil, gold, copper and corn, but also into more obscure assets such...
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The Daily Reckoning Australia (Free subscription) | 09/04/2008
... it was a year ago, so a release from the SPR can very easily make up for the lost supply,’ said Phil Flynn, senior market analyst at Alaron Trading.” A strengthening dollar has something to do with this trend as well. Since crude is priced in dollars around the world, a strong dollar puts downward pressure on the price of oil. In addition, when the dollar is weak, investors rush to...
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Seattle Post-Intelligencer (Free subscription) | 09/03/2008
... to have victims when a market comes down this fast. People stayed at the party for too long," said Phil Flynn, energy analyst at Alaron Trading Corp. in Chicago.As commodities prices soared into the stratosphere in the first half of the year, hedge funds and other big institutional investors plowed money not only into oil, gold, copper and corn, but also into more obscure assets like...
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ABS CBN (Free subscription) | 09/03/2008
... bulls are on the run and the market is finally facing up to the realities surrounding it," said Phil Flynn, an analyst at Alaron Trading.As oil prices fell, Iran called for the Organization of the Petroleum Exporting Countries (OPEC), which produces 40 percent of world output, to discuss excess supply at its meeting in Vienna on September 9."Some OPEC members are providing the market...
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Pakistan News (Free subscription) | 09/03/2008
... bulls are on the run and the market is finally facing up to the realities surrounding it,” said Phil Flynn, an analyst at Alaron Trading. As oil prices fell, Iran called for the Organisation of the Petroleum Exporting Countries (Opec), which produces 40 percent of world output, to discuss excess supply at its meeting in Vienna on September 9. “Some Opec members are providing the market...
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atHome Top Story (Free subscription) | 09/02/2008
... holiday."It looks like Gustav is not going to be as strong a storm as the market had feared," said Phil Flynn of Alaron Trading in Chicago. "There is a belief that this storm is not going to do much damage, that we are going to be able to get through this and not miss a beat and continue our downward move."All of the 1.3 million barrels per day of oil production capacity in the U.S....
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The Telegraph (Free subscription) | 09/02/2008
"It looks like Gustav is not going to be as strong a storm as the market had feared," said Phil Flynn of Alaron Trading. "There is a belief that this storm is not going to do much damage, that we are going to be able to get through this and not miss a beat and continue our downward move."How much further crude can fall, though, was called into question by Iran's oil minister, who said...
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Uk Business Energy News Blog (Free subscription) | 09/02/2008
... if needed. “It looks like Gustav is not going to be as strong a storm as the market feared,” said Phil Flynn, an analyst with Alaron Trading. While the hurricane was downgraded it has yet to be seen what the impact of the damage is longer term, said analysts. The US-based National Hurricane Centre said the “maximum sustained winds have decreased to near 110mph”. In 2005, devastating...
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The Australian (Free subscription) | 09/01/2008
... "We are better prepared for this storm than any storm in the history of the oil industry," said Phil Flynn, senior market analyst at Alaron Trading. "Unlike Katrina, which made a last-minute turn, everyone was prepared for this storm." Oil consumption is also weaker, with total US demand down 6 per cent from August 2005, according to the Energy Information Administration. Refineries...
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The Earth Times Online Newspaper (Free subscription) | 09/01/2008
... reducing processing rates, sources and industry officials said."This is Katrina's legacy," said Phil Flynn of Alaron Trading in Chicago. "The industry is much more prepared and taking things much more seriously. That's why so much has been shut down so quickly."Despite Gustav's course through the heart of the U.S. oil patch, oil prices rose a modest 91 cents or 0.8 percent to $116.37...
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The Earth Times Online Newspaper (Free subscription) | 09/01/2008
... reducing processing rates, sources and industry officials said."This is Katrina's legacy," said Phil Flynn of Alaron Trading in Chicago. "The industry is much more prepared and taking things much more seriously. That's why so much has been shut down so quickly."Despite Gustav's course through the heart of the U.S. oil patch, oil prices rose a modest $1.04 or 0.9 percent to $116.50...
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The Earth Times Online Newspaper (Free subscription) | 08/31/2008
... took an optimistic view of the widespread shutdowns Sunday."This is Katrina's legacy," said Phil Flynn of Alaron Trading in Chicago. "The industry is much more prepared and taking things much more seriously. That's why so much has been shut down so quickly."There will be a rally when the market opens (on Sunday) but hopefully things won't be too bad and we can sell off tomorrow (Monday)."PRODUCTION...
