Brent is trading this morning at $57.38 up 0.06 and WTI is up 0.11, trading at $52.16 from Friday's close. First, of all 4-0! I feel drunk with happiness. Caution the man who drunk on happiness for he, like man who run behind bus, going to be exhausted. Confucius said that, honestly, he did. OK, I know the question you're all asking - Would you rather have a pet elephant, or a pet giraffe? No, not that, but it is a very good question. I think I'd go for the giraffe, personally but no, the real question you're all asking. Why, in the name of all that is holey (sic.), is crude trading at $57.40? Well, let me tell you. I genuinely do not know. There isn't a part of me right now that can form a bullish argument for crude oil. I know you're all thinking yes Stanley, but when are you EVER bullish crude? There have been times. I can name at least two or three instances in the last 7 years I have been bullish but I'm talking about right now, how can one form an argument for crude to be up here? Everyone is going to say, "ah, ha! lest ye forget the might powers of OPEC+?". Ummm, no. I haven't forgotten their powers but what exactly have they done in the last two weeks apart from stand around and drunk café au lait? The market has just guessed that OPEC+ will do something but in all honesty, they have done less than Arteta has - next to nothing. It’s just a typical example of how fickle the bulls are, risk sentiment is up because people want to believe that the powers that be will do something if they have to whereas, in realistic terms, nothing has happened and arguably we are in a worst position on a macroeconomic basis than we were when crude was trading close to that psychological $50 per bbl on Brent. I'll leave you with the from my friends at the IEA, "In its first publication on the oil market since the outbreak began, the International Energy Agency (IEA) dramatically revised its oil demand forecast, predicting consumption will actually contract by 435,000 bpd, the first outright decline year-on-year since the global financial crisis more than a decade ago. Previously, the agency expected consumption to increase by 800,000 bpd from a year earlier." In the words of Nina Simone "Nuff said". Good day.