Victor Shum Iranian Quotations

The current Iranian developments, though they will not cause any immediate disruption to oil supply, have caused some anxiety on the part of traders.

This reduces fears about an Iranian crude supply cut and the market is just reacting to that.

Some of the commodity investors went back into the market with the Iranian issue still looming as a worry.

Besides the fundamental supply and demand information, prices are driven by the emotional momentum of the Iranian issue.

The market is reacting to some rhetoric regarding the Iranian situation.

The market is focused on the fact that the market is well supplied - both in products and in crude - while the Iranian situation stays in the background.

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.

A lot of uncertainty remains in how the Iranian situation will work itself out. There is some concern in the Asian market on whether Iran is a reliable supplier.