There is no tension on the oil side due to refinery losses. There is no tension on the product side thanks to the 1 mb/d product deliveries from European strategic reserves. But how long is that going to last?

Don't you think that the market is very unusual in that there is a very short term excess of supply at the same time as a strong likelihood of inverse imbalances in the medium term?

I'll stick to my end of year bet of 100$ for oil.

Your points on natural gas are of course well noted.

In the long run, we're all dead. John Maynard Keynes