We are going to have bearish statistics on crude oil when the report is released today. Oil probably rose too much yesterday.
More Quotes from Naohiro Niimura:
The Nigerian incident is a clear sign to buy. There had not been much similar market-moving news for a while and it's easier to move prices now because volumes and liquidity are low due to the holiday period.Naohiro Niimura
The market has dropped because of forecasts for higher temperatures. People are buying and selling based on weather forecasts.
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
This is expected to become a potential factor to cause supply tightness. Also at the same time, this move could be indicating that domestic demand within China is strong.
Naohiro Niimura
The market is focusing on weather, which is softening product demand everywhere in the Northern Hemisphere, not just the U.S. Northeast.
Naohiro Niimura
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