We're already in the position where every refinery unit is vital just to meet demand. We don't have any spare capacity. That's what it makes it so critical.

I'm not forecasting these changes. These changes have already occurred at the wholesale level.

This week's DOE report showed a decent withdrawal in distillate stocks, with demand finally showing some teeth.

Traders remain extremely nervous about gasoline supplies, especially with the switch to ethanol nationwide.

We don't know how much of the refinery is down or for how long. But not to negate the human tragedy, it happened at the worst time of the year seasonally. And it happens at a time the market is nervous and looking for reasons to go higher anyway.

I believe we are done with the with energy bull market,