Victor Shum
Victor Shum
calming cut effect production suggestion targets
The OPEC suggestion that they would not cut production targets has had a calming effect on the market.
barrel depend dollars hit mark market near played problems talk whether
There's a lot of market talk about whether we're going to hit the psychological 65 dollars a barrel mark or even 70 dollars in the near future. I think it will depend on how the geopolitical problems are played out.
china council decisions economic future members near rather sanctions strong ties veto
Any decisions on sanctions will not be in the near future because two members on the council with veto power, China and Russia, have rather strong economic ties with Iran.
dollars fresh level momentum passing
Once the psychological level of 70 dollars was breached, there was momentum which spurred fresh buying. Passing the 70.85 dollar level is inevitable.
arm becoming buy company decide listed perhaps rather
Perhaps one could surmise that they wanted the listed company to be more independent and decide what to buy on their own rather than becoming an arm of a state-owned company.
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.
less portion power types
If you have a portion of your power requirement generated by nuclear, there is less of a need for other types of fuel.
louisiana process shut
Louisiana refineries can process that, but they are shut down.
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.
concerns due price rise
A lot of the price rise is due to geopolitical concerns fuelling speculative interest.
disruption keeping supply threat traders
The threat to supply disruption is keeping traders edgy.
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.