After some profit-taking, we are now waiting for the inventory data. But the Nigerian crisis remains a serious issue.
More Quotes from Tetsu Emori:
Supplies of crude oil and oil products are less than normal, which will bring a much tighter market in winter.Tetsu Emori
(U.S. data) showed quite bearish numbers, ... Prices may fall rapidly to 56 unless we have cold weather.
Tetsu Emori
People are just waiting for a chance to buy ahead of Christmas. At the US58 level, it's a good time to buy back.
Tetsu Emori
The release of crude and gas stocks from the IEA provided a good cover against the shortage expected after the hurricanes,
Tetsu Emori
It looks quite unlikely that Katrina would affect the Gulf of Mexico facilities, and that's what's bringing the price down now as people start to take profits.
Tetsu Emori
The Iranian situation isn't going away. There are dangerous comments coming out of Iran on their nuclear testing and that will keep oil high.
Tetsu Emori
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