Jason Schenker Situation Quotations

If the rise in imports and utilization manifest this week continues next week, it could apply some downward pressure. Of course, any decline in petroleum prices would be predicated on the notion that the Iranian geopolitical situation remains relatively quiet.

This is a situation where you've got a lot of supply on hand, leading to a drop in prices.

A further deterioration of the situation in Nigeria, or escalation of nuclear brinkmanship with the Iranians, could push the (New York) price of crude further to 70 dollars.

You could still see some downward price moves if the Iranian situation just fades from view. If it fades from the headlines you could see oil prices move down several dollars.

The Iran situation will stay in the background until early March when both the IAEA and OPEC meet.

The Iranian situation appears to be getting worse.