Naohiro Niimura
Naohiro Niimura
build cut impact market near prices production quite reason remain
The build is quite huge, and that's having an impact on the market today. OPEC has no reason to cut production as long as prices remain near $60.
needing punish reason sell
There's no reason to sell this market. I think there's a sense of needing to punish Iran. We could see $70.
demand might oil prices seeing suggest
At $67, we have started seeing indicators that suggest oil prices might be weighing on demand growth.
believe bullish crude effects hurricane prices product rise
We will see the bullish stats, which will show the effects of the hurricane on U.S. crude and product stockpiles, so I believe prices will rise from here,
crude oil released report rose statistics
We are going to have bearish statistics on crude oil when the report is released today. Oil probably rose too much yesterday.
facilities fully last market nervous oil recovered supplies tight
Now the market is nervous about a new storm, while supplies are tight and oil facilities have not fully recovered (from the last hurricanes).
actively cold difficult fear happen lingering sell spell
It is difficult to sell off actively because there is a lingering fear that if something should happen to refiners or a cold spell hits, it will immediately tighten supplies.
case drop excess iran market oil prices
We have an excess of oil supply, and if there was no Iran case prices would drop sharply. Iran underpins the market prices.
again iran likely market seen test
Most likely the market will test $70 again because we have not seen improvements in Iran and Nigeria.
hurry mild plus seem sufficient supplies traders
Traders are not in hurry to buy, as we seem to have sufficient supplies plus mild weather.
both iran market nigeria punished
Iran and Nigeria could both be big problems. If Iran is punished with sanctions, then the market will go much higher.
active ahead asian causing copper jobs market news players supported tax
Asian players are refraining from being active ahead of jobs data, which is causing the market to be range-bound, but copper will be supported after yesterday's news on China's tax hike.
increase pushing rate
It's China's rate increase that is pushing down the market.
clear demand normal reduce remain warmer weather
It's clear that the weather in the US north-east will remain much warmer than normal and reduce heating demand sharply.