Victor Shum
Victor Shum
few generally inventory market past report
In the past few weeks, right before the announcement of the inventory report the market generally comes down.
affect embargo iran lead occur oil prices raise respond revenue sanctions spike whether
Iran individually can't raise prices ... whether Iran will respond to sanctions with an oil embargo may lead to a spike in prices. But I don't think it will occur because it will affect oil revenue to Iran.
change expectation general market
The general market expectation is that OPEC will not change the quotas.
arabia call cut driver key output premium price promised provide risk since time
The geo-political risk premium and how it fluctuates is a key driver in the price of oil. Since the time Saudi Arabia objected to Iran's call to cut output and promised to provide more oil, the risk premium has declined.
disrupted drama iran nigeria oil prices sending short
The geopolitical drama over Iran and Nigeria is sending oil prices upwards. But Nigeria is more problematic in the short term, because it has actually disrupted supply.
drama iran nigeria oil prices sending
The geopolitical drama over Iran and Nigeria is sending oil prices upwards.
close downward due forecast gone market thursday today warmer weather
The downward close on Thursday was due to the warmer weather forecast ... and today the market is correcting (that) so it's gone back up a little.
confirmed data inventory market quite
The fundamentals are quite bearish ... the inventory data ... essentially confirmed that the market is (well) supplied with product.
confirmed data inventory market quite
The fundamentals are quite bearish (negative for prices) ... the (US) inventory data ... essentially confirmed that the market is supplied with product.
anxiety cause caused current disruption immediate iranian oil though
The current Iranian developments, though they will not cause any immediate disruption to oil supply, have caused some anxiety on the part of traders.
capacity crude louisiana oil process shut sour
The crude oil that is going to be supplied is the heavy, sour kind, and there is not much refining capacity for that. Louisiana refineries can process that, but they are shut down.
certainly depression develop early radar screens seems though tropical whether within
The tropical depression is certainly within the radar screens of traders, though it seems to be too early to tell whether it would develop into a storm, and its direction.
both crude market
The market is well supplied with both crude and products.
buying extending focus gains last market primarily showing signs supply
The market is showing signs of upward buying and is really extending gains from last week. The focus is on the supply disruption, primarily out of Nigeria.