Tony Nunan Quotes
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Fundamentals | Weak | Couple | Months | High |
Fundamentals have been weak for the past couple of months because of the high inventories in the U.S. Prices have gone up because of a series of geopolitical events.
- Tony Nunan
The market is highly sensitized to headlines that could affect supply. Anxiety over supplies and possible disruptions are the key drivers of price now. It's hard to be bearish in a market like this. Levels came off the record high mainly due to profit-taking because prices went up too quickly. But $65-$70 seems a very distinct possibility as we approach winter.
- Tony Nunan