There are worries about demand going forward, but in the overall scheme of things, oil prices are still exceptionally high and are still vulnerable to supply hitches.
People will start to pay attention to peak demand looming, with heating oil a worry.
I'd be surprised if oil ticks much lower, stocks are good but you only have to have Iran start to threaten the loss of barrels. I expect the Iranians to take this to the wire.
I'd be surprised if oil ticks much lower. Stocks are good, but you only have to have Iran start to threaten the loss of barrels. I expect the Iranians to take this to the wire.
Global demand has pushed oil prices to a new higher platform, and risks of serious supply disruption (Iran, Nigeria) are adding a premium to prices.
Peak demand for winter fuel in the northern hemisphere is what is going to be driving oil prices in the fourth-quarter.
The demand for uranium is very strong, and countries are trying to diversify away from oil and coal which contributes to global warming. It appears Australia is happy to sell it to China, or anyone else, so long as they abide by specific guidelines.
While Iran said last week that it would separate nuclear and oil as issues, it was only last year that it warned that oil could be used as a weapon to get its own way on the nuclear issues.
Everything's gone wrong in the oil market recently. If you wanted to paint the worst scenario picture, you couldn't do much better.
Oil could ease back a bit today, though the hurricane season runs into November so we're not out of the woods yet. Asian demand is still pretty strong, so we're likely to see some buying if it goes much below $60.
Oil production is pretty close to capacity at the moment. The market is going to be very jittery until the Iranian issue is resolved.
The US economy looks healthy and it's safe to infer that the demand for oil and diesel will remain pretty firm and that the price of oil should be helped along as well.
Heating oil is a concern as we're heading into winter.
The market's reacting to forecasts that heating oil demand will be 20 percent below normal this week, giving refiners a little breathing room to boost supply ahead of winter.