US product markets remain extremely weak at present, with most of that weakness focused in gasoline markets.
More Quotes from 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
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
There is a strategic element to it. It's something that we've seen before. Japan was doing the same thing about 10 to 15 years ago, with a lot of its natural resource companies, including oil companies, buying into foreign projects.
Kevin Norrish
The oil market remains prone to short-term dislocations, with the hurricane season continuing to play a greatly magnified role in a market with limited slack.
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
(Today) it is expectations of further substantial increases in U.S. oil inventory tomorrow that is holding sway.
Kevin Norrish
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