Victor Shum
Victor Shum
bit bulls cold market
The bulls are back in the market with just a little bit of cold weather.
dollars fresh level momentum passing
Once the psychological level of 70 dollars was breached, there was momentum which spurred fresh buying. Passing the 70.85 dollar level is inevitable.
china council decisions economic future members near rather sanctions strong ties veto
Any decisions on sanctions will not be in the near future because two members on the council with veto power, China and Russia, have rather strong economic ties with Iran.
arm becoming buy company decide listed perhaps rather
Perhaps one could surmise that they wanted the listed company to be more independent and decide what to buy on their own rather than becoming an arm of a state-owned company.
attracting elements floor high market
These elements will keep attracting speculative elements into the market and keep a high floor for crude.
disruption keeping supply threat traders
The threat to supply disruption is keeping traders edgy.
concern disruption due gasoline potential supplies
Because of this, there is concern of a potential disruption in gasoline supplies due to this switch-over.
crude expect knows market nobody
Nobody knows what to expect next. That's why the crude market is apprehensive.
driving iran main nigeria
Nigeria and Iran are the main driving concerns.
louisiana process shut
Louisiana refineries can process that, but they are shut down.
crude drive events floor high market price pricing seeing short term though
Short term events like this which are unpredictable can drive a high price floor for crude prices. That is why we are seeing pricing in the high 50s even though the market is well supplied.
crude demand fairly gas immediate impact likely natural oil pricing sign winter
Natural gas pricing is an immediate telltale sign of the winter situation: it is fairly mild, and this is likely to impact heating oil and crude demand as well.
build entering facilities gas key natural oil problem shooting storms winter
Natural gas is shooting off the charts. We are entering into winter and refineries need to build up heating oil inventories but its a problem when storms keep key facilities shut.
driving focus gets last possible season summer traders
It's possible that as the summer driving season gets closer, just like last year, traders will focus more and more on products.