Victor Shum
Victor Shum
besides demand driven emotional iranian momentum prices supply
Besides the fundamental supply and demand information, prices are driven by the emotional momentum of the Iranian issue.
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.
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.
drive looks perfect prices storm
It looks like the perfect storm to drive prices up.
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.
bin caused reaction tape
The bin Laden tape has caused a knee-jerk reaction on the part of the market.
department energy reacting
It's reacting to the US energy department report.
appears decline due few floor high iranian issue keeping large past prices surprising
The pullback appears to be due to profit-taking, which is not surprising considering prices have really surged in the past few days. The decline will not be large because the Iranian issue is keeping a high floor under prices.
concerns fears focusing lingering market nigeria political upwards
With lingering concerns over Iran, Nigeria ... the market is correcting upwards because it is focusing on fears in the geo- political realm.
concern driving market situation
What's driving the market right now is geo-political concerns. One concern is the situation in Nigeria.
caught cuts exports fears oil spark traders twice
Cuts in exports of oil will spark off geo-political fears that will make traders think twice about selling. Traders don't want to be caught short.
concerned continuing crude draw driving gasoline inventory late market peak season starts stock summer
Crude inventory went up and the market is concerned about the continuing gasoline stock draw in the US market and the peak summer driving season that starts in late May.
available capacity crude good
Even if there's available crude for release, if there's no refining capacity that they can use, what good is that?
council disruption issue near security supply takes term traders
Between now and when the U.N. Security Council actually takes up the issue there will be some saber-rattling, but in the near term traders know there won't be any disruption to supply from it.