James Williams Market Quotations

The short answer it is fear driving the market and whether it is justified or not the fear itself is real and doesn't always lead to rational behavior.

Some of the oil price change is the market taking a calmer look at the situation in Nigeria and the potential for a supply interruption from Iran.

The U.S. natural-gas market is essentially a North American market with almost all of the gas coming from the U.S. or Canada. This insulates our market from the European natural-gas market.

The market was concentrating on Nigeria, Iran and the latest bin Laden tape.

The market seems to be on an emotional roller coaster balancing two conflicting items -- going up on the fear of a supply interruption with very limited spare capacity, and down on exceptionally high inventories and sufficient supply in the market.