If the storm direction has not changed, I see no reason why people would get panicky about this. We've seen pre-storm selling in the last couple of storms, and there is no sign of demand coming in at the moment. |
It was the first real sign that oil prices are beginning to hurt, not at the petrol pump, but for industry. |
It's the predominant story today, people are walking in and getting a bit panicky about this. The last 40, 50 cents of this rally is speculators in London thinking we could see more buying when the Americans start trading. |
The market keeps coming back to haunt the bears. |
This is a breather. It's not going to be until later in the week that we know the course of the storm. |
You don't stand in the way of a runaway train. Obviously, Iran seems to be the big concern. You've also got to bear in mind the risk to the gasoline market in the U.S. I get the impression that there is more to go. |