I agree also, the longer this goes on the more obvious it becomes that these are not markets forces at work here.

Lots of comments about the disconnect between the physical and paper markets in silver and gold. Is the same true for oil?

I keep hearing how the oil market is "glutted" with crude but it isn't so long since George Blake was talking on FSN about refineries in Australia which were shutting down because they couldn't get oil to refine and others talking about low inventory levels etc. I find it hard to believe the supply demand balance has changed so much in the space of a few months.