The oil price will not help shares. After such a strong performance yesterday, the market will be under some pressure.

There is further evidence that U.S. rates are near their peak, plus very strong corporate results. Bulls in Europe have plenty to get their teeth into this morning.

However, underlying performance is strong, amplified by high but volatile prices of oil, gas and products.

I just hope that this sends a message, and that other oil companies will step and help also,

If oil prices fall, it will help to stimulate economic activity -- the profit outlook will be better and also lower oil would bring down costs, making stocks the better asset class.

There's not enough natural gas to substitute for heating oil. So this will help support crude oil prices. What we need is not (crude) oil but heating oil and natural gas. Unfortunately, there's no strategic reserves for them.