Asian players are refraining from being active ahead of jobs data, which is causing the market to be range-bound, but copper will be supported after yesterday's news on China's tax hike. |
At $67, we have started seeing indicators that suggest oil prices might be weighing on demand growth. |
Comments about waning U.S. oil product demand added bearish sentiment to the market, ... But we need to be careful as supply concerns are still there -- many refining and oil facilities have been shut. |
Comments about waning U.S. oil product demand added bearish sentiment to the market. But we need to be careful as supply concerns are still there -- many refining and oil facilities have been shut. |
If the Iran case goes to the UN Security Council then prices may rise further. The Iran issue is supporting the crude price. |
Iran and Nigeria could both be big problems. If Iran is punished with sanctions, then the market will go much higher. |
It is difficult to sell off actively because there is a lingering fear that if something should happen to refiners or a cold spell hits, it will immediately tighten supplies, |
It is difficult to sell off actively because there is a lingering fear that if something should happen to refiners or a cold spell hits, it will immediately tighten supplies. |
It's China's rate increase that is pushing down the market. |
It's clear that the weather in the US north-east will remain much warmer than normal and reduce heating demand sharply. |
Most likely the market will test $70 again because we have not seen improvements in Iran and Nigeria. |
Now the market is nervous about a new storm, while supplies are tight and oil facilities have not fully recovered (from the last hurricanes). |
The build is quite huge, and that's having an impact on the market today. OPEC has no reason to cut production as long as prices remain near $60. |
The increase in commercial crude (stocks) came as a surprise. |
The market has dropped because of forecasts for higher temperatures. People are buying and selling based on weather forecasts. |