What's Moving the Oil Markets?

•Fundamentally, the market remained strong with gasoline still a price driver, brokers said. "Gasoline has led the oil complex upwards and that gasoline demand has been strong in the US and China," Mike Wittner, Global Head of Energy Market Research said in a note to clients. "All of the near-term variables -hurricanes, geopolitics, refinery outages, and crude supply disruptions - provide upside risk, and any of them can literally happen overnight. We will see $80 crude before we see $60 again," Wittner added.

•Brent crude futures in London posted a fresh record Friday on fund buying from the non-commercials.

Copyright © 2005 - Platts

Please visit:  www.platts.com

Their coverage of energy matters is extensive!!.