Victor Shum
Victor Shum
attracting elements floor high market
These elements will keep attracting speculative elements into the market and keep a high floor for crude.
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.
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.
arm becoming buy company decide listed perhaps rather
Perhaps one could surmise that they wanted the listed company to be more independent and decide what to buy on their own rather than becoming an arm of a state-owned company.
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.
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.
disruption keeping supply threat traders
The threat to supply disruption is keeping traders edgy.
asset banks leverage physical trading
At the end of the day, physical asset acquisition is going to give banks more leverage over their trading positions.
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.
crude market meetings movement watch
There's not a whole lot of movement in the market today. I think the crude market will watch for the two meetings this week.
gains inventory report simply taking traders
The traders are simply taking profits. They want to lock-in their gains before the inventory report comes out on Wednesday.
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.