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Brent currently, +1.27% up 12 cents @ $40.97 a barrel on Tuesday.

Why "Hmmm...."? You don't believe that the bottom has been reached or you want higher oil price?.....or Goldman sachs is p*ssing you off????

I'm not convinced the bottom is in!

I'm of the view that having taken the market to the point of serious US oil (shale) capitulation why would you you let the price rise significantly? I'd suggest another 3-6 months of price sub $40 and preferably sub $35 would be the objective.

I am however long this sector and remain so, even though I think it will probably retrace.

hmm - this is starting to get quite interesting

Both Brent & WT above $41.

Oil rig count down by another 15.

and oil rigs down by another 10 this week.

No matter how much more efficient the drillers have become and how many suspended wells there, the supply/demand equation is going to turn the other way soon

The economy's of the world are booming, (or so they would have you believe) why is oil going down the pan?

Oil prices spiking at the moment

Brent crude @4+month high.

Botched Doha deal undermines OPEC credibility, oil prices tumble

Oil on a run.

Talks of another meeting in May plus inventory data better than expected.

I am surprised oil moving up so fast over the last month. Perhaps the shorters keep getting stopped out?

Oil steadies as IEA expects biggest non-OPEC output fall in 25 years

Falling output and weaker dollar push oil to 2016 high

USD Crude Oil Inventories 2.0M 1.4M 2.1M

Oil gushes past last resistance

Gold toying with 12+ month highs.

Oil rig count down another 11 this week to 332. I'm wondering just how long it will go as the fall doesn't appear to be slowing yet and in 30 weeks it will be down to zero ;-)

http://uk.businessinsider.com/baker-hughes-rig-count-april-29-2016-4?r=US&IR=T

I think the many of the commentators are conveniently ignoring the fact that all the excess is in storage, whereas in previous times, there was lots of spare capacity to bring onstream