Quotes by Peter Gignoux

“The last time the U.S. was engaged militarily in Iraq, oil prices shot up to about $42 a barrel,”

“The market is reacting to Richardsons announcement. By putting more barrels on the market, it immediately alters U.S. crude oil inventories.”

“The market simply thinks that theres not enough oil on the market and is theorizing that were going to see continued high levels of consumption.”

“I think its a sure thing they are going to raise by a certain amount -- the question is how much more are they going to produce.”

“That put the cat among the pigeons.”

“The fallout is coming through from yesterdays (Tuesdays) data, which was very good. It has given the market a lot of encouragement,”

“What were partly faced with is a temporary aberration. But even if we fast-forward to tomorrow [after the contract change] were still at $30 a barrel - which is about 10 percent above the years average.”

“Altogether were on target. The markets behaving very well right now.”

“The core of this last move is entirely different than anything weve seen.”

“There are reports that all Iraqi exports are running normally. If the worry was that Iraqi exports would cease and they havent, then there is nothing to worry about.”