The increase in gasoline supplies could partly be just the release of U.S. strategic reserves being accounted for now.
They've got to look conservative without missing the boat. The market hangs on every word.
Supply growth is not there, and the players in the market aren't investing in new supply.
The drop in crude oil was larger than expected, and that fueled buying.
There's huge demand. These users are realizing that with such high raw material prices, it makes sense to own some of these assets.
The market, again, has been completely surprised on the upside - it completely underestimated the strength of the market.
We won't see much selling before the report comes out, as the sentiment is that there could be a larger drop than expected.
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 market is still very cautious about the damage caused by Hurricane Rita, and they're just digesting new information filtering in about damage to oil rigs in the Gulf of Mexico.
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