There is no doubt that the bullish storm seems to be brewing. Financial players have been accused of lifting oil prices to new record highs with oil tipping briefly above $88 yesterday. This is forcing many players to re-assess exposures in commodities and there is no doubt that if this Winter is a bit cold then we could see further squeezes. Ironically if this happens it will happen when supply is at its strongest for many years in both gas and power.

It is key that some semblance of normality returns to all markets, but there is financial worry with the US sub prime market and so traders are looking to spice up other markets, the world shortage of oil suggests that we are likely to see a greater possibility of squeeze happening over the winter.