Victor Shum
Victor Shum
asian concern iran iranian itself market reliable remains situation whether work
A lot of uncertainty remains in how the Iranian situation will work itself out. There is some concern in the Asian market on whether Iran is a reliable supplier.
inevitably last prices week
Because the surge in prices last week was so strong, inevitably there is profit-taking.
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.
adjusting days downward few market past seems today
Today the market seems to adjusting downward because all the upward surge over the past few days was a little overdone.
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.
both combining joint political prize systems together
Working together in a joint venture... is always challenging. Here you're combining different cultures, political systems and both are after some prize assets.
below dollar driving dropping felt level market prices reason
There is no fundamental reason driving prices back up. Market participants felt that the 60 dollar level is an important mark and dropping below 60 is too much of a fall.
driving market
What is driving the market are two issues.
expect floor high overall prices
We can expect an overall high floor in prices this week.
attracted certainly events hitting oil prices recent
There is certainly the possibility (of prices hitting 70 dollars). The recent events have attracted speculators and oil has become a lot like an investment.
attracted certainly events hitting oil prices recent
There is certainly the possibility (of prices hitting USD70). The recent events have attracted speculators and oil has become a lot like an investment.
calming cut effect production suggestion targets
The OPEC suggestion that they would not cut production targets has had a calming effect on the market.
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.