None of the fears about supply have gone away and demand growth shows no sign of slowing. That makes it a difficult market to sell.
More Quotes from Geoff Pyne:
It's got to be worth up to 2 a barrel initially.Geoff Pyne
Even if they are not capable of doing serious damage to oil infrastructure, political instability and the threat to the ruling family is of real concern and promises to haunt the oil market for some time to come,
Geoff Pyne
Heating fuel stocks are going to be a theme all through winter. Every single refinery outage will feed concern.
Geoff Pyne
It is quite right to say the security of supply is not the same as it was four to five years ago.
Geoff Pyne
One assumes that this is preparation to make Iran less vulnerable to outside pressures.
Geoff Pyne
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