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.
More Quotes from Kevin Norrish:
The peak period for hurricanes is usually from August to September, so the oil market is concerned about the risk of weather-related production losses over the coming weeks.Kevin Norrish
The price is definitely going to 65 a barrel. That's not an earth shattering call to make now.
Kevin Norrish
Ever since Bush started building it up, he has made it clear that the reserve is there to be used if there are signs of severe supply disruption, not to act as a tool for managing prices,
Kevin Norrish
(Today) it is expectations of further substantial increases in U.S. oil inventory tomorrow that is holding sway.
Kevin Norrish
My impression is that the price action is more to do with the data flow.
Kevin Norrish
The concern over gasoline availability coming into the second quarter is helping to keep crude oil markets relatively firm.
Kevin Norrish
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