Brent closed last night up 0.02 to $79.30 and WTi closed as flat as the Arsenal back 4 with no change at $71.49. What has the week bought us? Well, I want to make one thing absolutely clear - it's YANNY, not LAUREL!!!! My wife hears Laurel, which of course started the domestics of all domestics. But what about the oil market? Another splendid week for all those involved in the OPEC agreement and those who work for a bullish oil fund. Brent is up another 2.5% w/o/w. *claps*. However, if yesterday is anything to go by then $80 per bbl perhaps is that step too far. When it reached $80 per bbl yesterday (which it did several times) the market reacted in the same way one does when they are testing if a bath is too hot, dip a toe, don't like it, let it cool down. Alas, I fear that I have to concede my fate that oil is going to hit $85 per bbl though and it wouldn't surprise me if we got there before the end of May, but I maintain my reasons as to why I was so confident that prices wouldn't get as high as they are and that was and is based on the physical fundamentals. Unfortunately, as I have been writing about for a while now, everything is so detached from reality when it comes to the oil futures market that things have, almost, gotten out of control. Let's see though, I'm sure we will test the $80 handle today at some point, I suppose it is now up to the very funds who put us up here in the first place to maintain some decorum. Watch the rig count later. Yanny....Yanny....Yanny. Have a good weekend.