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Hansen: Who's driving oil markets this week

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After a few of volatile weeks in the oil markets, things appear to be settling down says Saxo's Ole Hansen. He says brent is beginning to find its range between USD 30 and 35 a barrel. The focus is now on Iran and the impact this country is having on other big prodcuers such as Saudi Arabia and Russia. 

Ali Al-Naimi, the Saudi Oil Minister, will attend a conference in Houston, Texas later this Tuesday. Ole discusses the impact the world's most powerful oil man could have on the market. He believes the Saudi will try to soothe the market. 

Wednesday's US inventory report is also of huge interest, says Ole. And he looks at the key levels in brent to look out for.