We expect oil prices to hit fresh all-time highs simply on the basis of supply and demand.
More Quotes from 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
People have been on edge over Iran for some time now. This adds another layer of concern.
Kevin Norrish
If you start to layer in people's concerns and anxieties about what's happening in various parts of the world, there is a strong chance we'll have another test of the all-time highs, quite possibly sooner rather than later.
Kevin Norrish
India and China are big importers of crude oil, and they're both at the stage of their development where they're energy intensive, ... We have seen no pullback in demand in those countries, or in western countries --demand doesn't seem to be an issue that would help keep prices in check.
Kevin Norrish
US product markets remain extremely weak at present, with most of that weakness focused in gasoline markets.
Kevin Norrish
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