If we were to see prices $5-$10 higher, that would attract new production, so the upside is capped.
The harsh reality of last night's build in inventory is starting to set in on oil prices.
If the situation drags out then that will be a dent to confidence for investors.
We are likely getting closer to a more balanced market.
On a 24 hour basis we'll see some volatility depending on what happens with Greece.
The strength we saw in the middle of last week has not been completely overturned but the direction has reversed.
I think there is a bit of investor relief China's stock market opened relatively firm.
