Everything else in the report was neutral or bullish. Demand is still high.

The IEA report is very neutral. It is playing up the demand slowdown in China and 8 out of 9 OECD countries and down-playing the gasoline situation.

Residual demand is down from a year ago, which may be a sign that natural gas has fallen enough for some consumers to switch back.

If you want to protect yourself from it, get a high-mileage car. Volatility is always an issue. It's just a part of the environment.

Seventy is, basically, already here.

It comes down to how well refineries recovered from storm damage and how fast imports have grown. I am looking for an increase in refinery utilization but it should only be limited.