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Kyle Cooper in Wikipedia
(This report is a) little bit bearish in terms of expectations.
The market is lower as weather forecasts are considered rather bearish through the middle of the month.
Distillate inventories were up slightly but are not rising at a normal pace, so that is a little bit concerning.
The last time inventories were this high was in early 1999 when prices were below $20 a barrel. OPEC wants prices to fall. Saudi Arabia and other members remember that when prices spiked in the 70s there was a rash of investment and they lost a lot of market share for a long time.
The Iranians are going ahead with their nuclear program and saying the heck with what the rest of the world thinks. They didn't say anything about cutting supplies but the market is still nervous.
You must have the bird in your heart before you can find it in the bush."
(April 03, 1837 - March 29, 1921)
A-OK full go.
It is not in doing what you like, but in liking what you do that is the secret of happiness
James Matthew Barrie