“But if Iran withdrew, that would leave a substantial gap in the market. In any case, the oil price is likely to remain high because global demand is so strong.”
“Something that could have squeezed supply a bit tighter would be a sustained cold snap and there just hasn't been the cold weather in the U.S. yet to test out just how well the market can supply.”
“Inventories are at pretty comfortable levels based on a milder weather outlook, so the chances of a squeeze on supply this (northern) winter are receding.”
“The Iranian issue is hanging over the market. There's a big bogey there in the form of Iran and these smaller issues that are making real impinges on supply.”
“Ordinarily comfortable inventories would mean lower prices -- probably closer to fifty-five dollars. But the Iran situation, and several smaller actual interruptions to crude supply, are keeping prices higher.”
