Kevin Norrish Inventory Quotations

If it weren't for the market's focus on short-term inventory data, the market would be a lot higher. We're retracing, even if the move upwards was not as big as it could have been.

With global inventory still at extremely low levels and particular concern over low product and crude oil inventory in the U.S., there is little obvious sign of any significant weakness.

Oil prices have fallen since the release of worse than expected US oil inventory figures on Wednesday but the potential for the Iranian situation to worsen during the course of the IAEA meeting currently underway is keeping oil market participants wary.

It's easy to get sucked into weekly changes in inventory level, but behind that, we still have very strong demand.