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.