Essentially the condition of the oil market is this: There are so many components on edge, sooner or later a shoe will drop that will set off a bidding war between the US, a country now a debtor nation, and China/Taiwan/Japan, a country with huge cash reserves. Nigeria, Russia, Venezuela, Saudi, Iran are all on the edge. Iraq is out of the picture, probably for years. The Russians have acted erratically for years, and seem to be getting worse. Whatever they said today, could change tomorrow.