Natural gas pricing is an immediate telltale sign of the winter situation it is fairly mild, and this is likely to impact heating oil and crude demand as well.
More Quotes from Victor Shum:
Because of this, there is concern of a potential disruption in gasoline supplies due to this switch-over.Victor Shum
What's driving the market right now is geo-political concerns. One concern is the situation in Nigeria.
Victor Shum
In the short-term, it is all about geopolitical drama.
Victor Shum
Cuts in exports of oil will spark off geo-political fears that will make traders think twice about selling. Traders don't want to be caught short.
Victor Shum
What the market has found is that the 68-level has a rather strong resistance, and so the contract is now retreating slightly on profit taking.
Victor Shum
With all these events in the Middle East, prices hit the psychological level of 70 (dollars) and settled above it.
Victor Shum
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