Victor Shum
Victor Shum
focus market momentum oil pricing retreat
There is momentum for a retreat in the oil pricing as the focus of the market is on the bearish fundamentals.
turn
If it's cold, you need to turn on the heating. It's not like gasoline, which you can conserve.
calming cut effect production suggestion targets
The OPEC suggestion that they would not cut production targets has had a calming effect on the market.
attracted certainly events hitting oil prices recent
There is certainly the possibility (of prices hitting USD70). The recent events have attracted speculators and oil has become a lot like an investment.
attracted certainly events hitting oil prices recent
There is certainly the possibility (of prices hitting 70 dollars). The recent events have attracted speculators and oil has become a lot like an investment.
beyond overall pricing
Overall pricing is still high... but it's not going to surge to 70 or beyond just yet.
felt market oil
It is a correction. Oil is rebounding because the market felt it was oversold.
expect floor high overall prices
We can expect an overall high floor in prices this week.
below dollar driving dropping felt level market prices reason
There is no fundamental reason driving prices back up. Market participants felt that the 60 dollar level is an important mark and dropping below 60 is too much of a fall.
might oil options perhaps places
State-owned enterprises have perhaps more options than international oil companies. Without shareholders, they can go places that might not be politically acceptable.
commodity investors iranian issue market worry
Some of the commodity investors went back into the market with the Iranian issue still looming as a worry.
concerns continued expect floor high market season supply today winter
I expect the market to be down today but continued concerns of winter season supply will put a high floor in prices.
china consumers energy forces fuel high oil pain subsidize
It forces the oil refineries to subsidize fuel so consumers in China don't feel much of the pain of high energy prices.
adjusting days downward few market past seems today
Today the market seems to adjusting downward because all the upward surge over the past few days was a little overdone.