Naohiro Niimura
Naohiro Niimura
build cut impact market near prices production quite reason remain
The build is quite huge, and that's having an impact on the market today. OPEC has no reason to cut production as long as prices remain near $60.
facilities fully last market nervous oil recovered supplies tight
Now the market is nervous about a new storm, while supplies are tight and oil facilities have not fully recovered (from the last hurricanes).
added careful comments concerns demand facilities oil product sentiment supply
Comments about waning U.S. oil product demand added bearish sentiment to the market, ... But we need to be careful as supply concerns are still there -- many refining and oil facilities have been shut.
cause china demand domestic expected factor move potential supply within
This is expected to become a potential factor to cause supply tightness. Also at the same time, this move could be indicating that domestic demand within China is strong.
demand might oil prices seeing suggest
At $67, we have started seeing indicators that suggest oil prices might be weighing on demand growth.
needing punish reason sell
There's no reason to sell this market. I think there's a sense of needing to punish Iran. We could see $70.
actively cold difficult fear happen lingering sell spell
It is difficult to sell off actively because there is a lingering fear that if something should happen to refiners or a cold spell hits, it will immediately tighten supplies.
active ahead asian causing copper jobs market news players supported tax
Asian players are refraining from being active ahead of jobs data, which is causing the market to be range-bound, but copper will be supported after yesterday's news on China's tax hike.
based buying dropped forecasts higher market people selling weather
The market has dropped because of forecasts for higher temperatures. People are buying and selling based on weather forecasts.
expected fuel gasoline increase market motor reacting supply
The market is reacting the most to the gasoline waiver in Bush's outline, which is expected to increase the motor fuel supply in the States.
increase pushing rate
It's China's rate increase that is pushing down the market.
demand everywhere focusing market northern product
The market is focusing on weather, which is softening product demand everywhere in the Northern Hemisphere, not just the U.S. Northeast.
case drop excess iran market oil prices
We have an excess of oil supply, and if there was no Iran case prices would drop sharply. Iran underpins the market prices.
crude oil released report rose statistics
We are going to have bearish statistics on crude oil when the report is released today. Oil probably rose too much yesterday.