Lawrence Eagles Market Quotations

The market has coped very well with the hurricane situation on the surface, particularly on the refinery side,

As far as the Middle East is concerned, there is still strong justification for a premium to remain in the market until it is clear the situation is much calmer on the ground,

The fact that the North Sea output problem is supporting the market really shows how tight the physical crude supply is.

While gasoline was clearly the main driving force behind the market on Friday, there is little doubt that the Middle East tension also provides some upside momentum for crude.