103 ordspråk av Victor Shum
Victor Shum
It looks like the perfect storm to drive prices up.
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It's a lingering fear [in Nigeria], so even though it is sort of old news, the market is concerned about it.
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It's a little pullback from the record last Friday.
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It's not only the suspension of production that's causing concern, it's the fact that we could see potential damage to the platforms, which would cause longer disruptions to production.
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It's possible that as the summer driving season gets closer, just like last year, traders will focus more and more on products.
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It's reacting to the US energy department report.
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It's the geopolitical fear factor that's driving the market now,
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Louisiana refineries can process that, but they are shut down.
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Natural gas is shooting off the charts. We are entering into winter and refineries need to build up heating oil inventories but its a problem when storms keep key facilities shut.
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Natural gas pricing is an immediate telltale sign of the winter situation: it is fairly mild, and this is likely to impact heating oil and crude demand as well.
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Nigeria and Iran are the main driving concerns ... the correction in the market today is likely to be limited because of lingering supply concerns.
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Nigeria and Iran are the main driving concerns.
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Nobody knows what to expect next. That's why the crude market is apprehensive.
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Once the psychological level of 70 dollars was breached, there was momentum which spurred fresh buying. Passing the 70.85 dollar level is inevitable.
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Overall pricing is still high... but it's not going to surge to 70 or beyond just yet.
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