Victor Shum
Victor Shum
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.
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.
above events hit level middle prices settled
With all these events in the Middle East, prices hit the psychological level of 70 (dollars) and settled above it.
drive looks perfect prices storm
It looks like the perfect storm to drive prices up.
built disruption immediate potential premium price prices risk supply threat
The potential supply disruption risk premium has already been built into the price and because there really is no immediate threat to supply ... prices are correcting downwards.
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.
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.
inevitably last prices week
Because the surge in prices last week was so strong, inevitably there is profit-taking.
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.
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.
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.