Victor Shum
Victor Shum
crude cut fears iranian market reacting supply
This reduces fears about an Iranian crude supply cut and the market is just reacting to that.
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.
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.
concerns continued expect floor high market season supply today winter
I expect the market to be down today but continued concerns of winter season supply will put a high floor in prices.
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.
disruption keeping supply threat traders
The threat to supply disruption is keeping traders edgy.
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.
buying extending focus gains last market primarily showing signs supply
The market is showing signs of upward buying and is really extending gains from last week. The focus is on the supply disruption, primarily out of Nigeria.
looking market supply tight volatility
The market is on edge; it's looking for directions. There's a lot of volatility now, which is characteristic of a tight supply situation.
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.
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?
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.