Victor Shum
Victor Shum
attracted certainly events hitting oil prices recent
There is certainly the possibility (of prices hitting USD70). The recent events have attracted speculators and oil has become a lot like an investment.
attracted certainly events hitting oil prices recent
There is certainly the possibility (of prices hitting 70 dollars). The recent events have attracted speculators and oil has become a lot like an investment.
expect floor high overall prices
We can expect an overall high floor in prices this week.
below dollar driving dropping felt level market prices reason
There is no fundamental reason driving prices back up. Market participants felt that the 60 dollar level is an important mark and dropping below 60 is too much of a fall.
built disruption immediate potential premium price prices risk supply threat
The potential supply disruption risk premium has already been built into the price and because there really is no immediate threat to supply ... prices are correcting downwards.
above events hit level middle prices settled
With all these events in the Middle East, prices hit the psychological level of 70 (dollars) and settled above it.
appears decline due few floor high iranian issue keeping large past prices surprising
The pullback appears to be due to profit-taking, which is not surprising considering prices have really surged in the past few days. The decline will not be large because the Iranian issue is keeping a high floor under prices.
besides demand driven emotional iranian momentum prices supply
Besides the fundamental supply and demand information, prices are driven by the emotional momentum of the Iranian issue.
concerns due price rise
A lot of the price rise is due to geopolitical concerns fuelling speculative interest.
continues driven market morning price primarily upwards
This morning the price crept upwards so the market continues to be driven by the short-term geopolitical (pressures) primarily in Nigeria.
drive looks perfect prices storm
It looks like the perfect storm to drive prices up.
affect embargo iran lead occur oil prices raise respond revenue sanctions spike whether
Iran individually can't raise prices ... whether Iran will respond to sanctions with an oil embargo may lead to a spike in prices. But I don't think it will occur because it will affect oil revenue to Iran.