All I can say is that the market likes to move dramatically ...

All I can say is that the market likes to move dramatically on emotions and short term stories. So while there is FOMO at play, I would suggest that if the Saudis or Iran or even the U.S. start talking about more production, we could see a quick drop. That might be the time to buy because after the emotions settle down the market will realize that production increases don't happen overnight. It's a lot like gambling when you buy based on a once in lifetime event.