The geo-political risk premium and how it fluctuates is a key driver in the price of oil. Since the time Saudi Arabia objected to Iran's call to cut output and promised to provide more oil, the risk premium has declined.
More Quotes from Victor Shum:
The geopolitical drama over Iran and Nigeria is sending oil prices upwards.Victor Shum
Crude inventory went up and the market is concerned about the continuing gasoline stock draw in the US market and the peak summer driving season that starts in late May.
Victor Shum
The current Iranian developments, though they will not cause any immediate disruption to oil supply, have caused some anxiety on the part of traders.
Victor Shum
Today the market seems to adjusting downward because all the upward surge over the past few days was a little overdone.
Victor Shum
What's driving the market right now is geo-political concerns. One concern is the situation in Nigeria.
Victor Shum
The downward close on Thursday was due to the warmer weather forecast ... and today the market is correcting (that) so it's gone back up a little.
Victor Shum
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Based on Topics: Danger & Risk Quotes, Time QuotesBased on Keywords: fluctuates, geo-political
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