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Yes, the IEA call for more production is confusing. So is KSA decreasing supply right after Libya. So the supply side is confusing.

The demand side is more predictable. At $4/gal, there will be less demand. But gas has dropped $.40/gal here (Hawaii) in the last week.

Hurricane season is just around the corner. We have not seen much for awhile. The spooky oil markets would likely be spooked by a single cat 5 down through rig alley.

So bottom line, I am confused.

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