Crude is going to close higher for the month of August..  as Sat likes to say.. "everyone who sold crude in August is now underwater.."

( http://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude.... )

Impressive.. why?  I think the bears got a little carried away to the down side.. thus when things started to cover.. "boy howdie" did they..??

We got news overnight of a fire in a syncrude processor up in Canada.. ( http://finance.yahoo.com/news/canadian-oil-sands-provides-informati... ) adding fuel to the fire.. (apologies for the poor pun..;-)

I covered some of my fall needs last week.. but I got to admit that this is a little more than I expected.. thus far.  I would look for $65 crude by the start of the 2016 driving season.. Q2 16.. but we have time till we get there..  The deferred Dec market already has a 50 handle on it.. (Tara?)

If it's more than just short covering..??  Maybe OPEC is going to call a meeting?  I guess we'll just have to wait and see..  Cheaper gasoline prices are just around the corner.. as we move to winter blends.. it's possible that the consumer will not see much of this spike up..??  Which is maybe why someone decided to reel in some of the slack..?? 

Prez Obama is headed to Alaska.. some say that he will delay the issuance of drilling permits offshore.. which could explain some of the strength..??

( http://www.nationaljournal.com/energy/obama-climate-change-arctic-d... ) 

for whatever the reasons..  it is impressive to say the least.  I wouldn't be surprised to see a pullback.. but now it might find some pretty good support as people start to position for the future..??