There is a high probability of further disruptions in Nigeria as we haven't seen the end of the attacks. The big problem is that going into the driving season, Nigerian refined crude is important for the US market, and if there are further disruptions, we are going to get a pop in crude prices.

Tony Nunan

Attacks Further High Nigeria Probability Seen

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There is a high probability of further disruptions in Nigeria as we haven't seen the end of the attacks.

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Even if there is a stock draw, unless it is substantially and unexpectedly high, I would not expect prices to go up above $60 as the near-term market is still heavily weighed down by high inventory levels and the warmer weather.

Demand is so high and capacity is so low, we can go from comfortable to uncomfortable inventories within a month.

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There is a high probability for quite a bit of frost Tuesday, especially in wind-sheltered areas.

— Tony Cristaldi

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It's a crazy market. Prices look strong one week because of the draws (declines) in gasoline. If we get another big draw this week, the market will be even stronger.

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