Oil may peak during the hurricane season in August or September. Economic growth will add to tightness in supply.
More Quotes from 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
In that case, we'll be in the winter season already. If temperatures in winter time are lower than forecast, then that should be a big problem.
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
Last week, there was an attack by terrorists in Saudi Arabia and that's why the market jumped, but the Saudi authorities were successful in foiling the attack so this calmed the market a bit, prompting traders to have a reason to sell.
Tetsu Emori
Stock levels were the highlight of the week, and should remain so next week -- the recovery we are seeing now is a buy-back ahead of the U. S. public holiday on Monday.
Tetsu Emori
People don't like to take any position before Christmas. Most people are thinking prices will be sustained at this level for the time being.
Tetsu Emori
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