Mark Pervan Quotations

It's had such a strong run. There's a lot of short-term money in the market that probably wants to take a profit, like hedge funds.

The drop in crude oil was larger than expected, and that fueled buying.

The capital management was certainly on the cards, but the market wasn't expecting such a generous offer.

The Chinese are trying to put a line in the sand, and they appear to be a lot more aggressive. But what will determine prices won't be talk, but physical supply and demand, and demand is still very strong.

But since U.S. gasoline supply is actually ample, I'm not surprised there's been a bit of profit taking today.

There is probably a little bit of caution - we could see some profit taking - these prices look pretty heady.

From a short-term point of view I don't expect any of these juniors to benefit. It's going to take six to 12 months to get legislation passed to get these guys up and running, and then they have to get government approval to actually mine the stuff. It could take many, many years for them to get their product to the market, let alone first defining what they've got.

We won't see much selling before the report comes out, as the sentiment is that there could be a larger drop than expected.

The market, again, has been completely surprised on the upside - it completely underestimated the strength of the market.

We're now starting to see that demand is steadily improving. There's going to be stronger demand for heating oil and crude futures are starting to reflect that.