"People seem to have done what they want for the September contract, with many people waiting for October to pick up. Levels should remain high. The market is highly sensitive to news of refinery outages, with no supply shortages on crude."

One Brent player said Monday morning as IPE Brent crude futures edged lower ahead of the front-month contract expiring on Aug 16. See more industry/OPEC viewpoints at http://www.platts.com/Oil/Resources/Quote%20of%20the%20Day/