Iran is driving it today, throwing jitters into the market. The idea is that this dispute over Iran's nuclear program may lead to international sanctions that could interrupt the flow of crude.
More Quotes from Kyle Cooper:
U.S. weather is turning less bearish. Bullish sentiment is still firmly in place and further price advances are possible, despite bearish current fundamentals.Kyle Cooper
The market continues to move higher with concern now mainly focused on Nigeria.
Kyle Cooper
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.
Kyle Cooper
Quite simply, the strong Pacific flow is continuing to inhibit any major intrusions of Arctic air into the lower 48. The winter is rapidly coming to an end for all practical purposes.
Kyle Cooper
Wilma weakened a little bit and the path has it heading in a direction that won't impact oil production.
Kyle Cooper
We've lost 450,000 barrels a day of production, which is significant. Shell hasn't given us much of an idea of when they will be able to restore output. This is a pretty reasonable reaction given that we don't know how long it will be before the production is back to normal.
Kyle Cooper
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