Typically, second-quarter demand for crude usually declines, so if OPEC doesn't cut supplies, it will add to the already bearish fundamentals. |
We might see a bigger drawdown than the market consensus. I expect refining rates to have gone up last week. |
We should see a retreat in prices after the US inventory data is released. That's because I expect a significant build in crude, in the range of five to six million barrels. |
What Bush said was very important because prior to his speech, prices were rising on comments from Iran. |
Yes, there is less supply in Nigeria but that is not enough to cut into oversupply. |
Yes, there is less supply in Nigeria, but that is not enough to cut into oversupply. |