The market was disappointed about the data but I think it's way too early to get uptight about stocks.
The market is very vulnerable to a supply shock like this. This news will push up prices when trading starts tomorrow.
The market is expecting another significant jump in U.S. stocks later today, and this focus has pushed geopolitical uncertainties off to the side, for now at least.
Iran will take the nuclear situation to the wire, making the market nervous. It will wax and wane diplomatically and they'll extract a price before agreeing to any deal with the west.
Oil production is pretty close to capacity at the moment. The market is going to be very jittery until the Iranian issue is resolved.
Everything's gone wrong in the oil market recently. If you wanted to paint the worst scenario picture, you couldn't do much better.
The Ecuador barrels missing from the market are another little unwelcome disruption to supply, and we're not even halfway through the Atlantic hurricane season.