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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.
He who wants Lent to seem short should contract a debt to be repaid at Easter
The modified measures should deflate Microsoft's overblown rhetoric and apocalyptic predictions about the proposed remedies.
(December 10, 1905 - January 14, 1962)
Love makes your soul crawl out from its hiding place.
Zora Neale Hurston