35 Quotes by Tony Nunan

Only Saudi Arabia has surplus capacity, and if its oil flow should be disrupted, it could bring a hopeless situation.

If we get draws in gasoline inventories, that could turn the market around.

Bearish (data) is widely expected and the market has already factored it in. But if it should show a recovery in demand, for example in gasoline, the market may rebound.

I can't see why it should have rallied $2 and I think it's coming back to reality -- that the short-term fundamentals look oversupplied,

If statistics show any signs of bullishness, prices will go higher. Technically, the market wants to test $65 a barrel.

There is a high probability of further disruptions in Nigeria as we haven't seen the end of the attacks.

Last time, the market could handle uncertainty as there was a lot of slack but now because prices are so high, the market is not equipped to handle unplanned events.

Overall big picture is the market is still strong,

Statistics have shown demand was reduced on a year-on-year basis in September and October. Traders are concerned that they may end up seeing slower demand again in November.