The market is becoming less concerned about gasoline supplies in the US. It shows the US refineries are getting towards full capacity.

The market is closely watching out for the report as a way of seeing the progress that oil companies and refiners are making in getting their assets back online,

The market's been driven up on the concern that gasoline supply could fall leading to the heavy demand period of the summer driving season.

The market is still very cautious about the damage caused by Hurricane Rita, and they're just digesting new information filtering in about damage to oil rigs in the Gulf of Mexico,

The market would be positioning ahead of that deadline.

The Chinese are trying to put a line in the sand, and they appear to be a lot more aggressive. But what will determine prices won't be talk, but physical supply and demand, and demand is still very strong.

The capital management was certainly on the cards, but the market wasn't expecting such a generous offer.

The drop in crude oil was larger than expected, and that fueled buying.

The increase in gasoline supplies could partly be just the release of U.S. strategic reserves being accounted for now.

The Iran situation is not going to go away so I see buyers coming in at the dip.