After Hurricane Ivan, it took several weeks to know the full extent of the damage to seabed pipelines. Some people are quite worried that this time could be worse because of the strength of Katrina.

Also refinery utilization was lower, which was also unexpected. It means that refineries are not using as much crude, so as a consequence of that we got a larger-then-expected crude build.

The latest security threats in Saudi Arabia, even though they're not directed at oil installations per se, and the continuing refinery issues are having a supportive role.

will take time to filter down.

Nobody knows the full extent of the damage, ... The speculation is that it will be worse than Ivan, but we won't really know for days, until oil companies get personnel out there and survey the damage.

Nobody knows the full extent of the damage. The speculation is that it will be worse than Ivan, but we won't really know for days, until oil companies get personnel out there and survey the damage.