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. - Victor Shum Quotes
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. Victor Shum
 

More - Victor Shum Quotes

The market is reacting to the tropical storm in the Gulf of Mexico which could affect platforms and refineries, - Victor Shum Quotes

The market is reacting to the tropical storm in the Gulf of Mexico which could affect platforms and refineries,

Victor Shum

 
With lingering concerns over Iran, Nigeria ... the market is correcting upwards because it is focusing on fears in the geo- political realm. - Victor Shum Quotes

With lingering concerns over Iran, Nigeria ... the market is correcting upwards because it is focusing on fears in the geo- political realm.

Victor Shum

 
Even if there's available crude for release, if there's no refining capacity that they can use, what good is that? - Victor Shum Quotes

Even if there's available crude for release, if there's no refining capacity that they can use, what good is that?

Victor Shum

 
Working together in a joint venture... is always challenging. Here you're combining different cultures, political systems and both are after some prize assets. - Victor Shum Quotes

Working together in a joint venture... is always challenging. Here you're combining different cultures, political systems and both are after some prize assets.

Victor Shum

 
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. - Victor Shum Quotes

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.

Victor Shum

 
There is momentum for a retreat in the oil pricing as the focus of the market is on the bearish fundamentals. - Victor Shum Quotes

There is momentum for a retreat in the oil pricing as the focus of the market is on the bearish fundamentals.

Victor Shum

 Focus
Gasoline inventories in the U.S. continue to be an issue in the market because last week's inventory report showed a stock decline as we approach the summer driving season. - Victor Shum Quotes

Gasoline inventories in the U.S. continue to be an issue in the market because last week's inventory report showed a stock decline as we approach the summer driving season.

Victor Shum

 
The fundamentals are quite bearish ... the inventory data ... essentially confirmed that the market is (well) supplied with product. - Victor Shum Quotes

The fundamentals are quite bearish ... the inventory data ... essentially confirmed that the market is (well) supplied with product.

Victor Shum

 
Overall pricing is still high... but it's not going to surge to 70 or beyond just yet. - Victor Shum Quotes

Overall pricing is still high... but it's not going to surge to 70 or beyond just yet.

Victor Shum

 
What's driving the market right now is geo-political concerns. One concern is the situation in Nigeria. - Victor Shum Quotes

What's driving the market right now is geo-political concerns. One concern is the situation in Nigeria.

Victor Shum

 
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