When the oil market notices that China is back, and remembers the fire that China's exploding oil demand lit under prices last year, the 'China factor' alone should be sufficient to floor near-term prices.
We're just going from U.S. market report to U.S. market report.
Some consuming nations - if not the market - are still asking OPEC to increase production, so I consider it highly likely that they will raise the quota by at least 500,000 barrels per day.
Most of us had known days ago that the U.S. would loan oil but some people interpreted the headline as a release of oil, possibly of products. Then the market realized and started buying it back.
Most of us had known days ago that the U.S. would loan oil, but some people interpreted the headline as a release of oil, possibly of products. Then the market realized and started buying it back,
We've gone from comfortable U.S. gasoline stocks to average and seem to be heading very clearly toward the low of the range. The market is worried about that.
I think the market is taking this too calmly and we could see prices bouncing back any time.
The market can't keep rallying on global supply worries. When it looks to the US and sees stocks are rising yet again it tends to calm things down slightly.
The IEA is doing what it can to talk the market down. The spin is don't worry too much, we've made this release, there might be another and demand is slowing down.
The crude market and the global economy have been quite willing to pay $60 a barrel without harm. The only thing that has happened is that the economic boom that gave us the fastest economic growth in 25 years has slowed a little bit to bring demand back in line.
The market was pricing mild, mild, mild and now winter is here and the market has rallied on that,
The market is reacting today as if oil at less than $74 a barrel is a bargain.
The market is overreacting but the market is right, the stats were quite bullish.
The market is extremely hesitant to go below USD60 a barrel and that is because of the Nigerian outages for the most part.
The market is extremely hesitant to go below $60 a barrel and that is because of the Nigerian outages for the most part.