Interview on 9-1-2015

[dan_s]

I was interviewed today on the Wall Street to Main Street program. Here is the link.

https://www.youtube.com/watch?v=q0HE-IC ... e=youtu.be


Daniel M. Steffens, President
Energy Prospectus Group
Houston, Texas
281-435-8874

[dan_s]

After the markets closed, API estimated that Wednesday's crude oil storage report will show a 7 million bbl build. This suggests more pain in the oil markets.

IMO the market over-reacts to these storage reports because the weekly movement is determined by seaborne oil being delivered. A lot of gasoline is going to be burned up over the Labor Day weekend.