The market is extremely hesitant to go below $60 a barrel and that is because of the Nigerian outages for the most part.

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 overreacting but the market is right, the stats were quite bullish.

The market is reacting today as if oil at less than $74 a barrel is a bargain.

The market was pricing mild, mild, mild and now winter is here and the market has rallied on that,

The figures are either virtually as expected or they are a bit more bearish than expected, which was the case for gasoline.

The chance of all that being met the entire winter is zero.

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 current gasoline supply situation is much worse than any of us had hoped.

The current trend is demand destruction. Nobody knows whether that is right or not. We're looking for any evidence demand destruction is the case.