We're continuing to see OPEC pump huge amounts and I suspect that over the next few weeks, we'll begin to see inventories build as demand switches from gasoline to heating oil, which does not have as much demand.

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OPEC is pumping incredible amounts of oil, and a lot of it is steaming this way.

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There are so many new entrants in the market, that some of these hedge funds and other players may take a while to digest the news.

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I expect another build in crude this week.

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