The U.S. inventory report should show that inventories, of crude and refined products, are comfortable for this time of the year.
More Quotes from Tobin Gorey:
The Iranian issue is hanging over the market. There's a big bogey there in the form of Iran and these smaller issues that are making real impinges on supply.Tobin Gorey
The Iran issue is the driver of the day, the extra factor causing the run-up in prices, but the basic thing underlying the industry is that global demand remains very strong.
Tobin Gorey
I'm inclined to think it's not reached a peak yet. We're still faced with a tight supply-demand equation against the backdrop of strong economic growth, and there's still more money to come into the market.
Tobin Gorey
Iran and Nigeria are providing a double disruption to the crude oil market, emphasizing that the oil market remains in no condition to play a man or more short.
Tobin Gorey
There's a sense that Iran has heated up and if it's going to come to a head, it will be further out than May.
Tobin Gorey
The worries of Iran won't go away any time soon, and in that sort of environment very few people are willing to be short on oil.
Tobin Gorey
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