Consumers are unrelenting in their demand for oil in the United States.

Oil at $60 and $70 was predicated on extremely strong economic growth and these hurricanes have had a deleterious effect on the economy.

It has taken a lot of worry out of the forward looking supply situation.

With distillate stocks at a 14-million-barrel surplus, the forecast for colder temperatures isn’t providing much support. It is too little, too late.

We’re going to keep on marching higher here, … The next stop is the $41.15 it hit on the heels of Saddam Hussein’s invasion of Kuwait and from there I would expect another spike higher....

The biggest thing right now is statements attributable to Congressman Tauzin saying the [Strategic Petroleum Reserve] has been switched to flow mode,

The sentiment has changed from worries over supply to worries over demand.

With distillate stocks at a 14 million-barrel surplus, the forecast for colder temperatures isn’t providing much support. It is too little, too late.

Heating oil has fallen below a critical support level, the 200-day moving average. This is a seminal technical point for traders.

Worries about gasoline supplies during the summer driving season are fading.