I'd be surprised if oil ticks much lower. Stocks are good, but you only have to have Iran start to threaten the loss of barrels. I expect the Iranians to take this to the wire.

Global demand has pushed oil prices to a new higher platform, and risks of serious supply disruption (Iran, Nigeria) are adding a premium to prices.

The demand for uranium is very strong, and countries are trying to diversify away from oil and coal which contributes to global warming. It appears Australia is happy to sell it to China, or anyone else, so long as they abide by specific guidelines.

The US economy looks healthy and it's safe to infer that the demand for oil and diesel will remain pretty firm and that the price of oil should be helped along as well.

We're just going into the peak season. Anything that is going to disrupt supplies is very unwelcome.

The Ecuador barrels missing from the market are another little unwelcome disruption to supply, and we're not even halfway through the Atlantic hurricane season.