Victor Shum
Victor Shum
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.
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.
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.
disruption keeping supply threat traders
The threat to supply disruption is keeping traders edgy.
driving focus gets last possible season summer traders
It's possible that as the summer driving season gets closer, just like last year, traders will focus more and more on products.
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.
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?
contract found market profit rather retreating slightly strong
What the market has found is that the $68-level has a rather strong resistance, and so the contract is now retreating slightly on profit taking.