christopher bellew

I don't think the hurricane will be hugely serious. I think by tomorrow morning this will be over.

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People were expecting a build in the products, particularly gasoline.

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It will take a lot of time for this extra oil to be delivered by OPEC, ... The fears people had about supply interruptions still remain because of the instability in Saudi Arabia and Iraq.

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Mild weather is one of the factors, and we're going into the heating-oil season with high stocks.

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Warm weather in the Northern Hemisphere continues to weigh on the heating oil market, and that has been dragging crude prices down too.

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We started coming down at the end of August. So we've been coming down for about 10 weeks. Oil trends tend to go on for much longer than that, so we have got a continuation of the downward movement, whether on warm weather or on weak demand.

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We are still quite strong in spite of expectations for product stock builds. Question marks over Nigeria and Iran and the effects of cold weather in Russia, which have reduced exports, are providing a lot of support.

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