Naohiro Niimura Oil Quotations

Now the market is nervous about a new storm, while supplies are tight and oil facilities have not fully recovered (from the last hurricanes).

We have an excess of oil supply, and if there was no Iran case prices would drop sharply. Iran underpins the market prices.

We are going to have bearish statistics on crude oil when the report is released today. Oil probably rose too much yesterday.

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.