Quotes from the news wire:
My view is that oil prices will find a low between $39 and $42 per barrel over the coming weeks, after that, however, we are coming closer to seeing a balanced market again.
Found on Reuters 8 years ago
There was another set of strong retail sales data (on Friday) - U.S. GDP numbers have done pretty well in the second quarter.
Found on Reuters 8 years ago
There is no disruption to shipping. There is nothing in terms of short-term risk (to oil supply).
Found on Reuters 8 years ago
The market is looking past the coup, there is no disruption to shipping. There is nothing in terms of short-term risk (to oil supply).
Found on Reuters 8 years ago
Certainly ($50) is a psychological barrier. There is a momentum, people will try and push it up over that, (From a) practical point of view will there or will there not be a sustainable increase above $50? At the $50-$55 range there has got to be a good chance of seeing the peak.
Found on Reuters 8 years ago
There is demand growth, and production in the U.S. is falling, so if against that background there was a freeze, markets could get tighter at some stage.
Found on Reuters 8 years ago
The potential risk for prices is for the downside as freezing output at current levels would be more of a symbolic act rather than a real market intervention. But you need to be open to surprises in this market.
Found on Reuters 8 years ago
There's a little bit of steadying in oil prices in the Asian time zone. The predominant attitude is one of wait-and-see until the Energy Information Administration (inventory) figures come out.
Found on Reuters 8 years ago
The market is seeing how currencies go as well. It was slightly disconcerting for the market (on Tuesday) to see oil prices falling at the same time as the dollar was falling.
Found on Reuters 8 years ago
First, any price gains must offset losses achieved from volume cuts - production cuts must be meaningful - sufficiently large to achieve a substantial price increase. And they will have to involve everybody - all the major (producer) players. That will be difficult to achieve.
Found on Reuters 8 years ago
I share the consensus view that producers are unlikely to reach an agreement (on cuts), the rationale being the need to satisfy two conditions, first, any price gains must offset losses achieved from volume cuts - production cuts must be meaningful - sufficiently large to achieve a substantial price increase. And they will have to involve everybody - all the major (producer) players. That will be difficult to achieve.
Found on Reuters 8 years ago
The strength we saw in the middle of last week has not been completely overturned but the direction has reversed.
Found on Reuters 8 years ago
The Fed and a weaker dollar could save the day, as could improved supply statistics. That could still mean that this downswing might turn out to be a correction of the latest rally, not the beginning of a major move lower.
Found on Reuters 9 years ago
While you can never be certain, (charts) suggests this is not going to be a false break. The latest breakdown follows failure at the 200-day moving average a couple of weeks ago.
Found on Reuters 9 years ago
If declines keep going at this rate it could be 18 months-two year's away before lower production affects any rally we see in prices.
Found on Reuters 9 years ago
I wouldn't want to conclude there is a real bounce going on, i'd like to see U.S. crude go beyond $46 a barrel to conclude the downtrend had finished.
Found on Reuters 9 years ago
I think there is a bit of investor relief China's stock market opened relatively firm.
Found on Reuters 9 years ago
There is a 30 percent probability attached (by investors) to a September (rate) increase.
Found on Reuters 9 years ago
Any change in sentiment tends to be amplified. Any change in direction in the oil markets has the potential to be risk driven by what's going on in the equity markets.
Found on Reuters 9 years ago
And I think if we did see a very strong number in the nonfarm payrolls this week, it would certainly give them an opportunity ... to make their move in September.
Found on Reuters 9 years ago
If the situation drags out then that will be a dent to confidence for investors.
Found on Reuters 9 years ago
The deadline is likely to be extended so that makes it a little less at the cutting edge of thinking right now, but we have rallied a fair way so the market is a bit vulnerable to increases in supply.
Found on Reuters 9 years ago
As far as the oil market is concerned, the potential ramifications are downward, if the situation drags out then that will be a dent to confidence for investors.
Found on Reuters 9 years ago
One way or another we are likely to see some production cuts. If we did see prices go up then OPEC would increase production and/or U.S. producers would increase theirs as well.
Found on Reuters 9 years ago
On a 24 hour basis we'll see some volatility depending on what happens with Greece.
Found on Reuters 9 years ago
My expectation for a price increase is fairly limited, one way or another we are likely to see some production cuts. If we did see prices go up then OPEC would increase production and/or U.S. producers would increase theirs as well.
Found on Reuters 9 years ago
If we were to see prices $5-$10 higher, that would attract new production, so the upside is capped.
Found on Reuters 9 years ago
But the market will find it hard to push U.S. prices much higher than mid-$60s and low-$70s for Brent, because even with U.S. production cuts the global oil market will remain well supplied.
Found on Reuters 9 years ago
When we start to see real production cuts in the United States, I suspect more upside to oil prices, but the market will find it hard to push U.S. prices much higher than mid-$60s and low-$70s for Brent, because even with U.S. production cuts the global oil market will remain well supplied.
Found on Reuters 9 years ago
But the market will find it hard to push U.S. prices much higher than mid-$60s and low-$70s for Brent, because even with U.S. production cuts the global oil market will remain well-supplied.
Found on Reuters 9 years ago
When we start to see real production cuts in the United States, I suspect more upside to oil prices, but the market will find it hard to push U.S. prices much higher than mid-$60s and low-$70s for Brent, because even with U.S. production cuts the global oil market will remain well-supplied.
Found on Reuters 9 years ago
The weaker U.S. dollar was supportive of commodity prices but another big build in inventory might mean the upside on oil prices is limited until there is some turnaround in U.S. oil production.
Found on Reuters 9 years ago
The harsh reality of last night's build in inventory is starting to set in on oil prices.
Found on Reuters 9 years ago
News of China' rate cut should help buyer mood this morning, compensating for a weak lead from the US market, however, while news of lower borrowing costs will help support equity valuations and be seen as a positive for commodity demand, market response may be limited. In some senses this rate cut is a technical response to the fact that lower inflation is making real borrowing costs more expensive in China.
Found on Reuters 9 years ago
However, while news of lower borrowing costs will help support equity valuations and be seen as a positive for commodity demand, market response may be limited. In some senses this rate cut is a technical response to the fact that lower inflation is making real borrowing costs more expensive in China.
Found on Reuters 9 years ago
News of China’ rate cut should help buyer mood this morning, compensating for a weak lead from the US market, however, while news of lower borrowing costs will help support equity valuations and be seen as a positive for commodity demand, market response may be limited. In some senses this rate cut is a technical response to the fact that lower inflation is making real borrowing costs more expensive in China.
Found on Reuters 9 years ago
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