Joseph Allman

Oil is being propped up by all the concerns that supplies will be interrupted. As long as the market thinks read more

Oil is being propped up by all the concerns that supplies will be interrupted. As long as the market thinks it's possible, we might see some more increases.

We still have a refining issue. Refineries in other parts of the country have been able to increase output but read more

We still have a refining issue. Refineries in other parts of the country have been able to increase output but they will have to go down later this year for maintenance. Refinery output will then fall below normal.

We have a surplus of natural gas in inventories.

We have a surplus of natural gas in inventories.

It's clear that supplies of crude oil and natural gas are more than adequate. The gasoline supply looked pretty tight read more

It's clear that supplies of crude oil and natural gas are more than adequate. The gasoline supply looked pretty tight a few weeks ago but the market responded and that's no longer the case. We are also getting closer to the end of winter and it's clear gas and heating-oil stocks will be sufficient.

I don't see a catalyst to move prices much higher in the short term. Iran's not likely to cut exports read more

I don't see a catalyst to move prices much higher in the short term. Iran's not likely to cut exports anytime soon. We've had very warm weather this winter and have built gasoline supplies despite refiners operating at reduced rates.