Victor Shum
Victor Shum
cause causing damage fact longer potential production suspension
It's not only the suspension of production that's causing concern, it's the fact that we could see potential damage to the platforms, which would cause longer disruptions to production.
critical crude petroleum process product refined release reserve strategic supply sure
The release of crude out of the Strategic Petroleum Reserve is not as critical as making sure that there is enough refined product supply and that there are refineries to process the crude.
compared demand dramatic future growth last oil products remain sales vehicle
Vehicle sales growth has been dramatic compared to last year. This suggests that the future demand for oil products will remain strong.
calming cut effect production suggestion targets
The OPEC suggestion that they would not cut production targets has had a calming effect on the market.
both crude fact focused iranian market products situation stays
The market is focused on the fact that the market is well supplied - both in products and in crude - while the Iranian situation stays in the background.
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.
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?