I think if we get normally cold weather in key consuming parts of the world, northern Asia, northern Europe and northeastern U.S., that's going to be very testing.
More Quotes from Kevin Norrish:
Whilst the immediate impact on European energy prices has been negligible, the dispute has served to emphasize the dependence of Western Europe on Russian gas supplies and the issue has the potential to keep European gas consumers on edge for some time.Kevin Norrish
Nigeria remains the key short-term issue for us. In particular, the continuing erosion of the control of central government over the Niger Delta.
Kevin Norrish
US product markets remain extremely weak at present, with most of that weakness focused in gasoline markets.
Kevin Norrish
It's moving up and down. We've got an erosion of the idea that there has been massive demand destruction while ... at the same time you have got some pretty mild weather on both sides of the Atlantic.
Kevin Norrish
There's still going to be concern about potential hurricanes in the market for a few months. Crude output and refining are so tightly stretched that you don't need a big disruption to put the system under a lot of pressure.
Kevin Norrish
Under the wrong circumstances, you could easily see 80 being broken or even higher than that. Any major loss of production is going to give us another major push up.
Kevin Norrish
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