Victor Shum
Victor Shum
disruption keeping supply threat traders
The threat to supply disruption is keeping traders edgy.
critical crude petroleum process product refined release reserve strategic supply sure
The release of crude out of the Strategic Petroleum Reserve is not as critical as making sure that there is enough refined product supply and that there are refineries to process the crude.
looking market supply tight volatility
The market is on edge; it's looking for directions. There's a lot of volatility now, which is characteristic of a tight supply situation.
buying extending focus gains last market primarily showing signs supply
The market is showing signs of upward buying and is really extending gains from last week. The focus is on the supply disruption, primarily out of Nigeria.
besides demand driven emotional iranian momentum prices supply
Besides the fundamental supply and demand information, prices are driven by the emotional momentum of the Iranian issue.
council disruption issue near security supply takes term traders
Between now and when the U.N. Security Council actually takes up the issue there will be some saber-rattling, but in the near term traders know there won't be any disruption to supply from it.
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.
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.