You have all the elements to push the price up high demand, tight supplies, tight refining capacity, interruptions in supplies, geopolitical tensions, Iran, Nigeria, etc.. The upside is bigger than the downside, so the money is piling in.
More Quotes from Roger Diwan:
Iran is going to make a political point.Roger Diwan
We have lost a lot of supplies at a time when we were very vulnerable. How high prices go will depend on how quickly refiners can get back on.
Roger Diwan
Ivan had a long, lingering effect because of the damage it caused and because it hit the market with a perception - and a reality - of a lack of supplies. In that sense, it heightened the fear of hurricanes this year.
Roger Diwan
This was a big reminder of how tight the system is. And what Katrina did is make the system even tighter going forward.
Roger Diwan
It's purely rhetorical. In order to have these oil contracts, you have to have a lot of people invest in them and most of those people are in places such as New York and London.
Roger Diwan
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