Mild weather is one of the factors, and we're going into the heating-oil season with high stocks.
More Quotes from Christopher Bellew:
We are still quite strong in spite of expectations for product stock builds. Question marks over Nigeria and Iran and the effects of cold weather in Russia, which have reduced exports, are providing a lot of support.Christopher Bellew
It will take a lot of time for this extra oil to be delivered by OPEC, ... The fears people had about supply interruptions still remain because of the instability in Saudi Arabia and Iraq.
Christopher Bellew
People were expecting a build in the products, particularly gasoline.
Christopher Bellew
We started coming down at the end of August. So we've been coming down for about 10 weeks. Oil trends tend to go on for much longer than that, so we have got a continuation of the downward movement, whether on warm weather or on weak demand.
Christopher Bellew
Warm weather in the Northern Hemisphere continues to weigh on the heating oil market, and that has been dragging crude prices down too.
Christopher Bellew
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