This morning the market is continuing its momentum ... from the response to the inventory report from the US.
This morning the price crept upwards so the market continues to be driven by the short-term geopolitical (pressures) primarily in Nigeria.
This reduces fears about an Iranian crude supply cut and the market is just reacting to that.
Today the market seems to adjusting downward because all the upward surge over the past few days was a little overdone.
Vehicle sales growth has been dramatic compared to last year. This suggests that the future demand for oil products will remain strong.
We can expect an overall high floor in prices this week.
What is driving the market are two issues.
What the market has found is that the $68-level has a rather strong resistance, and so the contract is now retreating slightly on profit taking.
What's driving the market right now is geo-political concerns. One concern is the situation in Nigeria.
While Iran has said that they do not intend to use oil as weapon, if [hit by] sanctions, Iran may use oil as a weapon.
With all these events in the Middle East, prices hit the psychological level of 70 (dollars) and settled above it.
With lingering concerns over Iran, Nigeria ... the market is correcting upwards because it is focusing on fears in the geo- political realm.
Working together in a joint venture... is always challenging. Here you're combining different cultures, political systems and both are after some prize assets.
This website focuses on proverbs in the Swedish, Danish and Norwegian languages, and some parts including the links below have not been translated to English. They are mainly FAQs, various information and webpages for improving the collection.
This website focuses on proverbs in the Swedish, Danish and Norwegian languages, and some parts including the links below have not been translated to English. They are mainly FAQs, various information and webpages for improving the collection.