Victor Shum
Victor Shum
commodity investors iranian issue market worry
Some of the commodity investors went back into the market with the Iranian issue still looming as a worry.
beyond overall pricing
Overall pricing is still high... but it's not going to surge to 70 or beyond just yet.
might oil options perhaps places
State-owned enterprises have perhaps more options than international oil companies. Without shareholders, they can go places that might not be politically acceptable.
china consumers energy forces fuel high oil pain subsidize
It forces the oil refineries to subsidize fuel so consumers in China don't feel much of the pain of high energy prices.
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.
crude cut fears iranian market reacting supply
This reduces fears about an Iranian crude supply cut and the market is just reacting to that.
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.
focus market momentum oil pricing retreat
There is momentum for a retreat in the oil pricing as the focus of the market is on the bearish fundamentals.
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.
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.
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.
turn
If it's cold, you need to turn on the heating. It's not like gasoline, which you can conserve.
expect floor high overall prices
We can expect an overall high floor in prices this week.
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.