The market is led by natural gas now.

The current high inventories will be consumed during the maintenance. Gasoline demand remains strong in the U.S..

The market can't be too bearish, as they will also focus on refining capacity constraints in the Gulf of Mexico.

The large 3.2 million barrel increase in (US) gasoline accelerated selling.

There is nothing we can do about it when (U.S.) inventory data shows such a bearish numbers. The market will continue to test the bottom.

Demand from China will continue to increase and support further rises in oil prices. The country needs more heavy fuel oil for power plants, and fuel for trucks is needed too.

Now is the lowest oil price this year when we look at the fundamentals. High inventories of gasoline and natural gas are weighing on oil prices now, but this situation won't persist.

Brent looks bullish, gaining strength from Nigeria's unrest. It is very rare to see spreads between WTI and Brent flattening.

Expectations of lower oil demand prompted funds selling because Hurricane Katrina has a negative effect in slowing down the U.S. economy.

The prompt WTI contract seems the weakest in the international oil index, weighed down by immediate high inventory levels in the United States.