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People don't like to take any position before Christmas. Most people are thinking prices will be sustained at this level for the time being.

People are just waiting for a chance to buy ahead of Christmas. At the US$58 level, it's a good time to buy back.

The weather and the high crude inventory levels are the main factors weighing down prices. This trend should carry on until the end of the year, with prices to hold between $55-$58.

The Iranian nuclear issue is driving the market. Traders are short-covering because they know if something happens in Iran the market would be in confusion. The issue poses a threat of supply disruption in a major oil-producing country.

Temperatures in the U.S. are not as cold as we expected. Stockpiles seem adequate for the moment.

After some profit-taking, we are now waiting for the inventory data. But the Nigerian crisis remains a serious issue.

The release of crude and gas stocks from the IEA provided a good cover against the shortage expected after the hurricanes,

(U.S. data) showed quite bearish numbers, ... Prices may fall rapidly to $56 unless we have cold weather.

The release of crude and gas stocks from the IEA provided a good cover against the shortage expected after the hurricanes.

The inventory data must be quite a bearish factor in the market. The price is well supported around $58 a barrel though.

(U.S. data) showed quite bearish numbers. Prices may fall rapidly to $56 unless we have cold weather.

Imports from IEA countries are almost completed. The demand-supply balance is a little tighter.

The economy seems to have completely absorbed high oil prices and people will be looking for steady economic growth next year. People expect a drawdown in crude oil stocks so they don't want to be short over the New Year.

Most of the traders are looking at the Iranian issue over the bearish inventory report.

Traders are looking at the Nigerian and Iranian issues. They don't like to sell at present.

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