We were at pre-Katrina levels in January when usually crude is coming down. We just got to a point where it stopped making sense.

The energy markets are going up with the cold weather headed for the east coast. Natural gas spiked up above $15 and oil got a kicker from that.

Everybody's expecting the inventories to be down. The refineries aren't producing as much while they have units out getting ready for summer.

Political factors are helping drive oil at the moment. I'm definitely bullish in this market.

We could easily go up another $3. This whole Iran issue could be around for quite some time yet.

The cold weather is moving into the Northeast and that's going to push prices higher. We could see crude oil go to $62.50 in a week or so.

With Iran, you're talking about 5 percent of the world's oil coming off the market. It just doesn't seem to be getting any better and the market is going to continue to rally.

The eastern seaboard has been quite a bit warmer than usual and that's bearish for the whole energy sector.

We're finding some support here but I don't think it's going to last. The concerns about Iran have been put on the back-burner for now and the fundamentals have taken over.