Tobin Gorey
Tobin Gorey
basic demand global industry remains underlying
The basic thing underlying the industry is that global demand remains very strong.
demand fallen price understand
I understand that some of the demand from fabricators has fallen away as the price has risen.
further iran
There's a sense that Iran has heated up and if it's going to come to a head, it will be further out than May.
clearly data inventory iranian nigerian providing situations support worried
The U.S. inventory data clearly worried the market, but the Iranian and Nigerian situations are providing support to prices.
atomic energy market meeting next oil
The next important meeting for the oil market will not be OPEC but the International Atomic Energy Agency.
certainly market pricing quick return unlikely various
There's unlikely to be a quick return of output, and the market is certainly pricing in all of these various geo-political threats.
flying markets money
There's still money flying into the commodities markets in general. I think the market is still bullish.
bit cold market snap squeezed supply sustained test weather
Something that could have squeezed supply a bit tighter would be a sustained cold snap and there just hasn't been the cold weather in the U.S. yet to test out just how well the market can supply.
bit decent dip expect few market past sustained
The market has had a decent run-up in the past few sessions so we may see a bit of consolidation, but I don't expect it to be a sustained dip in prices.
coming funds investment keeping prices
The fundamentals, coupled with a lot of institutional investment funds coming into the market, are keeping prices up.
economic factor giving key oil potential remain reminds row sanctions situations support
The Iran-U.N. row and potential for economic sanctions reminds us that geopolitical situations remain a key factor in giving support to oil prices.
basic causing demand driver extra factor global industry iran issue remains underlying
The Iran issue is the driver of the day, the extra factor causing the run-up in prices, but the basic thing underlying the industry is that global demand remains very strong.
bogey form hanging iran iranian issue issues smaller
The Iranian issue is hanging over the market. There's a big bogey there in the form of Iran and these smaller issues that are making real impinges on supply.
bit diplomatic expecting market solution
The market had become a bit too comfortable, expecting a diplomatic solution in Iran.