It is not unusual to lose Nigerian supplies but headlines of armed men attacking facilities explains this little rally.
If we are seeing China back to growth, that is another stress factor back in the oil market.
We have been getting a massive injection (of investment fund money) in the energy markets. It is very clear from the price action that they haven't stopped.
The approaching hurricane season reminds us of the utter devastation that Hurricane Ivan caused when it hit the Louisiana coast last year.
People dare not price in the surpluses they see.
We're just going from U.S. market report to U.S. market report.
Internationally, I've seen the interest in New Zealand art is huge, ... but we have never had an event to showcase it.
It is pretty clear that we can break $70 without too much problem.
The United States doesn't have to worry about gasoline lines. But consumers need to worry about the price they pay this week. They should be prepared for a short-term shock. Only time can fix that.
I think the market is taking this too calmly and we could see prices bouncing back any time.
