It is very cold in Europe. The US is still quite mild but northern Europe is very cold.

236

If (UN) sanctions were to be imposed on Iran, the president is perfectly capable of cutting back or stopping exports to cause the West real pain as there would be an enormous spike in prices.

226

Companies haven't assessed the damage fully and it may be that refineries stay shut for months. The European Union is moving crude and products to the U.S., but at some point it's going to have to replace that, leading to higher demand in a marketplace that is already very tight.

200

There is ample crude around. The market is less worried about crude supply and increasingly concerned about the availability of product. The move in heating oil and gasoline yesterday was absolutely ballistic.

195

Demand is growing, and we still have uncertainties in Nigeria, and the ongoing situation in Iran continues to worry. The sentiment is still very positive and the market in a very bullish mood.

186

Crude stocks were broadly in-line, but distillate and gasoline were better than expected, but was not that a surprise given the incredibly mild weather recently in the States.

185

There's plenty of geopolitical issues to concentrate the mind.

156

The weather is very mild in the US so the builds in stocks are not a huge surprise.

101