19 Jun 2014
Oil prices moved independently yesterday - Malcolm Graham-Wood
FXStreet (Łódź) - Independent Analyst Malcolm Graham-Wood remarks that as the latest battle in Iraq centres on the Baiji refinery, attention turns to Washington where Barack Obama is mulling over his options.
Key quotes
"Although he has ruled out direct action, discussions with Iran continue behind the scenes and these apparently include whether or to back or sack al-Maliki, I have heard that certainly Iran would prefer to keep him in place as a puppet."
"Oil companies are keeping up the ‘business as usual’ mantra but all are withdrawing non-essential staff from the region."
"The south of the country will likely remain largely un-approached by the insurgents leaving them in the middle ground in the Sunni strongholds."
"Brent was higher on Iraq and broke through the $113.50 resistance and looks headed for the next level of $115. WTI though was weaker although has bounced a bit this morning."
"This was down to the inventory stats, having seen a big draw in the API numbers on Tuesdaythe market had a fit of the vapours on seeing a draw of only 579/- barrels from the EIA which leaves the differential expanding towards $10 again."
Key quotes
"Although he has ruled out direct action, discussions with Iran continue behind the scenes and these apparently include whether or to back or sack al-Maliki, I have heard that certainly Iran would prefer to keep him in place as a puppet."
"Oil companies are keeping up the ‘business as usual’ mantra but all are withdrawing non-essential staff from the region."
"The south of the country will likely remain largely un-approached by the insurgents leaving them in the middle ground in the Sunni strongholds."
"Brent was higher on Iraq and broke through the $113.50 resistance and looks headed for the next level of $115. WTI though was weaker although has bounced a bit this morning."
"This was down to the inventory stats, having seen a big draw in the API numbers on Tuesdaythe market had a fit of the vapours on seeing a draw of only 579/- barrels from the EIA which leaves the differential expanding towards $10 again."