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. |
Rhetoric over Iran has cooled and Nigeria has stepped up security around the delta area. With the latest inventory data out, the market is focusing on fundamentals. |
Short term events like this which are unpredictable can drive a high price floor for crude prices. That is why we are seeing pricing in the high 50s even though the market is well supplied. |
Some of the commodity investors went back into the market with the Iranian issue still looming as a worry. |
State-owned enterprises have perhaps more options than international oil companies. Without shareholders, they can go places that might not be politically acceptable. |
The bin Laden tape has caused a knee-jerk reaction on the part of the market. |
The bulls are back in the market with just a little bit of cold weather. |
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. |
The current Iranian developments, though they will not cause any immediate disruption to oil supply, have caused some anxiety on the part of traders. |
The downward close on Thursday was due to the warmer weather forecast ... and today the market is correcting (that) so it's gone back up a little. |
The fundamentals are quite bearish ... the inventory data ... essentially confirmed that the market is (well) supplied with product. |
The fundamentals are quite bearish (negative for prices) ... the (US) inventory data ... essentially confirmed that the market is supplied with product. |
The general market expectation is that OPEC will not change the quotas. |
The geo-political news from Iran is not as hot anymore. |
The geo-political risk premium and how it fluctuates is a key driver in the price of oil. Since the time Saudi Arabia objected to Iran's call to cut output and promised to provide more oil, the risk premium has declined. |