They've got to look conservative without missing the boat. The market hangs on every word.

Supply growth is not there, and the players in the market aren't investing in new supply.

It's had such a strong run. There's a lot of short-term money in the market that probably wants to take a profit, like hedge funds.

The market, again, has been completely surprised on the upside - it completely underestimated the strength of the market.

There's huge demand. These users are realizing that with such high raw material prices, it makes sense to own some of these assets.

We're now starting to see that demand is steadily improving. There's going to be stronger demand for heating oil and crude futures are starting to reflect that.