Victor Shum
Victor Shum
turn
If it's cold, you need to turn on the heating. It's not like gasoline, which you can conserve.
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.
driving market
What is driving the market are two issues.
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.
department energy reacting
It's reacting to the US energy department report.
In the short-term, it is all about geopolitical drama.
less portion power types
If you have a portion of your power requirement generated by nuclear, there is less of a need for other types of fuel.
inevitably last prices week
Because the surge in prices last week was so strong, inevitably there is profit-taking.
approach continue decline driving gasoline inventory issue last market report stock summer
Gasoline inventories in the U.S. continue to be an issue in the market because last week's inventory report showed a stock decline as we approach the summer driving season.
behind caused disruption nigerian oil
Geopolitics is behind the surge in oil pricing... The Nigerian unrest has caused a disruption in supply.
behind caused disruption nigerian oil
Geo-politics is behind the surge in oil pricing... The Nigerian unrest has caused a disruption in supply.
certainly correct depending few market next players possible problems uncharted
In the next few days, depending on how the geopolitical problems play out, it is possible the market would correct as players take profits, ... But for now, we certainly are in uncharted territory.