Victor Shum Driving Quotations

Nigeria and Iran are the main driving concerns.

What is driving the market are two issues.

There is no fundamental reason driving prices back up. Market participants felt that the 60 dollar level is an important mark and dropping below 60 is too much of a fall.

Crude inventory went up and the market is concerned about the continuing gasoline stock draw in the US market and the peak summer driving season that starts in late May.

It's possible that as the summer driving season gets closer, just like last year, traders will focus more and more on products.

Gasoline inventories in the U.S. continue to be an issue in the market because last week's inventory report showed a stock decline as we approach the summer driving season.

It's the geopolitical fear factor that's driving the market now,

What's driving the market right now is geo-political concerns. One concern is the situation in Nigeria.