Victor Shum
Victor Shum
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.
disruption keeping supply threat traders
The threat to supply disruption is keeping traders edgy.
concerns due price rise
A lot of the price rise is due to geopolitical concerns fuelling speculative interest.
disrupted drama iran nigeria oil prices sending short
The geopolitical drama over Iran and Nigeria is sending oil prices upwards. But Nigeria is more problematic in the short term, because it has actually disrupted supply.
capacity crude louisiana oil process shut sour
The crude oil that is going to be supplied is the heavy, sour kind, and there is not much refining capacity for that. Louisiana refineries can process that, but they are shut down.
few generally inventory market past report
In the past few weeks, right before the announcement of the inventory report the market generally comes down.
turn
If it's cold, you need to turn on the heating. It's not like gasoline, which you can conserve.
iranian market reacting regarding rhetoric
The market is reacting to some rhetoric regarding the Iranian situation.
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.