Victor Shum
Victor Shum
asian concern iran iranian itself market reliable remains situation whether work
A lot of uncertainty remains in how the Iranian situation will work itself out. There is some concern in the Asian market on whether Iran is a reliable supplier.
agreement pricing resolve worked
They must have worked out some agreement between them to resolve the pricing dispute.
continues driven market morning price primarily upwards
This morning the price crept upwards so the market continues to be driven by the short-term geopolitical (pressures) primarily in Nigeria.
continuing inventory market momentum morning report response
This morning the market is continuing its momentum ... from the response to the inventory report from the US.
last record
It's a little pullback from the record last Friday.
cause causing damage fact longer potential production suspension
It's not only the suspension of production that's causing concern, it's the fact that we could see potential damage to the platforms, which would cause longer disruptions to production.
driving factor fear market
It's the geopolitical fear factor that's driving the market now,
drive looks perfect prices storm
It looks like the perfect storm to drive prices up.
critical crude petroleum process product refined release reserve strategic supply sure
The release of crude out of the Strategic Petroleum Reserve is not as critical as making sure that there is enough refined product supply and that there are refineries to process the crude.
barrel depend dollars hit mark market near played problems talk whether
There's a lot of market talk about whether we're going to hit the psychological 65 dollars a barrel mark or even 70 dollars in the near future. I think it will depend on how the geopolitical problems are played out.
avoid becoming efforts energy sources type
It is part of China's efforts to avoid becoming too reliant on any one energy type and to diversify sources of supply,
concerns due price rise
A lot of the price rise is due to geopolitical concerns fuelling speculative interest.
both combining joint political prize systems together
Working together in a joint venture... is always challenging. Here you're combining different cultures, political systems and both are after some prize assets.
compared demand dramatic future growth last oil products remain sales vehicle
Vehicle sales growth has been dramatic compared to last year. This suggests that the future demand for oil products will remain strong.