We’re stuck in a little bit of a range right now … we’re still in a pronounced downward channel.

When prices are at these heights you need fresh worrisome news to keep us moving higher. Crude inventories are swelling globally. We’ll be paying attention to gasoline because there is a question about supplies as...

And the refinery utilization rate is also a disappointment. It came in only at 84%, and right before the hurricanes, we were upwards of 95%.

If, however, they continue to drive up prices, despite fundamentals, the market will inevitably collapse on top of them. Expect to see stories next year about how they have been driven away by losses, when...

To the extent that those reports disappoint us, you may see rebounds.

Iran asserted that it will retaliate to sanctions and is now showing a willingness to share nuclear research with its neighbors. Exxon raised the threat level in Nigeria. If their output is lost on top...

A cataclysm to both production and refining was priced in. The assets are standing and repairs can continue.

The IEA report reminds us that there could be a supply problem in the fourth quarter. Storm damage and the chemical workers strike in France are going to hurt supply. Given the levels we have...

We must also note the rising concern of complications with the implementation of new US gasoline rules and supposedly some complications from the rising use of ethanol, as those situations are clearly prompting speculative buying.

Every little bit is going to help.

We are at levels that in the past several years had caused gasoline prices to approach the $1.70-type national average record levels.

The EPA waiver was a big move.

We will be keeping an eye on Nigeria, Iran and even Iraq. The Nigerian news failed to spark a rally today. We’ve become a bit jaded.

We are looking at the resurgence of the security premium. The Iranian situation is worsening. The U.S. attack in Pakistan, and the likelihood of further trouble in Nigeria are horrible news for consumers.

Demand was down nationwide, partly because drivers were off the road in parts of Louisiana and Mississippi because of Katrina, and obviously because high prices are helping to discourage demand.

Iran not only seems more intransigent with every passing day, but also calls into question the sincerity of its peaceful intent with the display of new weaponry.

Prices remain sensitive to the latest developments concerning the storm,

We will be looking to see if we can get below $59.30, which is key support. In the near term $56.30 is the target. It’s close to the July low and if we can break...

We’re staring down the barrel of a policy problem that’s causing this situation for consumers. They should have been given more time.

The growing realization of the impact on this energy center will continue to drive energy prices higher and higher,

Davis is definitely the gold standard,

As an oil market participant, it’s hard to know. Given all the rhetoric … everyone’s positioning themselves accordingly.

We’ve been down this road before with Iraq. Any spike is usually brief. However, given the backdrop … this is being taken a little bit more seriously.

The calculus of perpetually higher prices assumes that nothing will change.

Prices are going to be driven directly by the projected path of the storm,

The geopolitical rally is back in full swing. These headlines have upped the ante.

The attackers ended up hitting well short of any infrastructure. There was also a big step forward toward solving the Iranian nuclear crisis this weekend. As the waters calm the price of oil falls.

There’s pre-holiday buying taking place. In Iraq and elsewhere things are percolating. The market will be shut four days, and in this geopolitical situation it makes sense to cover positions and bets.

The failure of crude oil to rally today is only temporary – the Iranian situation is just getting worse and worse, at least for energy, by the day.

There’s conflicting weather models on that (approaching storm),

This isn’t enough to break the back of high oil prices.

OPEC has discovered that the economy can handle higher oil prices, which is unfortunate for consumers. We are going to see them try to keep prices in a $50-to- $60 range.

Prices have posted a limited decline…on reports that the Nigerian rebel group, MEND, released three oil workers, who were being held as hostages. MEND claims it will not take hostages in the future, but it...

In the very near term the Nigerian issue could generate more immediate buying pressure.

A significant amount of refined products will remain off the market for some time to come, and will prevent heating oil and gasoline stockpiles from being replenished, at least for the next few weeks,

We’re on a hair trigger.

Prior to its current path, we were looking at the worst-case scenario for the industry with the hurricane striking Houston, … It saves us from the worst.

This condition will last through the New Year and has given the technical picture a decidedly negative bias. Any bargain hunters have certainly been given pause by yesterday’s action, although the low volume probably exacerbated...

A large consuming area in the Midwest is going to experience a relatively significant degree of cold weather, and that is going to help support these prices.

In the short term, the market remains caught between the downward influence of growing stockpiles and the potential for a supply disruptive event to suddenly appear, bolstering buyers.

We are in assessment mode right now. We are still trying to get a better picture of when refineries will be back up and production in the Gulf is restored.

The biggest disappointment is that oil is not getting out of the north which is supposed to be Kurdish-controlled.

The EPA waiver was a big move,

A large swath of U.S. demand was taken out of the market as a result of Katrina. The EIA report shows that U.S. demand growth will decline by 40 percent. Overall inventories are still healthy.

The investment dollars are coming into the energy market as people look for a hedge against the Iran worries. The momentum makes reaching $70 inevitable.

There’s too much uncertainty,

Apparently, the immediacy of a surplus trumps geopolitics, for a day or two anyway. The next two days will focus on stockpiles and moderating weather, then, as the weekend approaches, the focus will widen again...

I think we’re in the process of nearing a bottom.

The hangover from the damage done by Ivan is still on everybody’s mind. We’re still in that mode where any bullish news is tremendously bullish even if it’s slight.

The Iran affair will come to the fore as a result of the IAEA meeting. We could be squarely on the road to curtailed Iranian oil production as a result, pushing prices up.