Victor Shum
Victor Shum
approach continue decline driving gasoline inventory issue last market report stock summer
Gasoline inventories in the U.S. continue to be an issue in the market because last week's inventory report showed a stock decline as we approach the summer driving season.
few generally inventory market past report
In the past few weeks, right before the announcement of the inventory report the market generally comes down.
continuing inventory market momentum morning report response
This morning the market is continuing its momentum ... from the response to the inventory report from the US.
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.
across build expects market report
The market expects the DoE report to show a build up of US inventories across the board.
crude cut fears iranian market reacting supply
This reduces fears about an Iranian crude supply cut and the market is just reacting to that.
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.
concern driving market situation
What's driving the market right now is geo-political concerns. One concern is the situation in Nigeria.
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.
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.
attempt expect market news react short term volatility
Expect volatility in the short term and the market will attempt to react to news with an upward bias.
friday gained kicking oil path people sold storm strength themselves toward
But then the storm reloaded over the weekend, gained strength and set on a path toward the oil facilities, ... The people who sold on Friday are probably kicking themselves now.