The seasonal effect of cold weather, stronger demand for heating oil, will pull higher the whole energy complex higher.
More Quotes from Dariusz Kowalczyk:
Concern about supply means the risk premium in prices is on the rise. Iran is the major problem, but Nigeria coming on top makes matters worse.Dariusz Kowalczyk
The market has been responding to the uncertain political situation -- Iran, Nigeria and intensifying military activity in Iraq .
Dariusz Kowalczyk
Slower U.S. growth may reduce growth in oil demand in the second half of the year. We are seeing proof of reduced U.S. consumer confidence.
Dariusz Kowalczyk
The situation in Nigeria is likely to remain volatile for some time. Prices should rise because of disruptions in supply.
Dariusz Kowalczyk
Because of the meeting of the IAEA on Monday, people do not want to go home short (with a sell bias) for the weekend.
Dariusz Kowalczyk
I think it's mostly the uncertainty regarding the situation in Iran and the very clear decision of the IAEA to refer the country to the UN Security Council.
Dariusz Kowalczyk
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