The market has dropped because of forecasts for higher temperatures. People are buying and selling based on weather forecasts.
More Quotes from Naohiro Niimura:
The build is quite huge, and that's having an impact on the market today. OPEC has no reason to cut production as long as prices remain near 60.Naohiro Niimura
Asian players are refraining from being active ahead of jobs data, which is causing the market to be range-bound, but copper will be supported after yesterday's news on China's tax hike.
Naohiro Niimura
The market has the same buy factors -- Iran and Nigeria -- and now increasing tension ahead of the IAEA meeting could drive the market higher.
Naohiro Niimura
We are going to have bearish statistics on crude oil when the report is released today. Oil probably rose too much yesterday.
Naohiro Niimura
It's clear that the weather in the US north-east will remain much warmer than normal and reduce heating demand sharply.
Naohiro Niimura
Traders are not in hurry to buy, as we seem to have sufficient supplies plus mild weather.
Naohiro Niimura
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Based on Topics: People Quotes, Weather QuotesTime, which alone makes the reputation of men, ends by making their defects respectable.
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