7 May 2014
Oil prices escalate on Ukraine
FXStreet (Edinburgh) - Malcolm Graham- Wood, Independant Analyst, believes the situation in Ukraine would derail in higher crude oil prices.
Key Quotes
“Its all a bit of a mix-up at the moment, partly due to the Ukraine which is holding prices higher than the physical market would indicate, but as we move seasons refinery maintenance is coming to an end in the US but offshore work in the North Sea starts soon”.
“Traders tell me that Brent is structurally weak but holding as Libya is taking its time to build up and has caught some short sellers out and the Buzzard output reduction is lasting longer than expected”.
Key Quotes
“Its all a bit of a mix-up at the moment, partly due to the Ukraine which is holding prices higher than the physical market would indicate, but as we move seasons refinery maintenance is coming to an end in the US but offshore work in the North Sea starts soon”.
“Traders tell me that Brent is structurally weak but holding as Libya is taking its time to build up and has caught some short sellers out and the Buzzard output reduction is lasting longer than expected”.