We still haven't recovered from the hurricanes. The deficit just keeps on widening.
The tension in the Middle East and other issues such as Nigeria will keep prices from falling. There are a lot of things that could occur in coming days, and none of them are positive.
This is the path of least resistance. The market is intent on testing $70 again.
It's taken a while but the market is now moving on the statistics. We tried to take it up when they first came out but failed, which made folks a little gun shy. Concern about gasoline supply and prices are driving things.
Gasoline supply and prices are driving things. The fall in crude stocks was a big surprise.