There is no obscuring the big picture of rapidly dwindling [gasoline] stock levels, accelerating demand and the growing likelihood of a supply crunch in the not too distant future. Geopolitical tensions also continue to prove a key driver behind the strength in oil prices.

Kevin Norrish

Accelerating Big Demand Dwindling Gasoline Growing Levels Likelihood No Obscuring Picture Rapidly Stock

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January has been very strong for crude and although February has grown less quickly, the overall picture for apparent consumption looks like it's probably roughly on-track.

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The airline's already slim chances of avoiding bankruptcy are dwindling rapidly.

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The likelihood now must be that the picture would pass to an overseas buyer,

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Such is the momentum and rigidity in views surrounding the Iranian issue, and such is the intensity of the attacks in Nigeria, that we would have to say that we believe the threats to supply are credible in both cases.

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At $63.92 per barrel, this breaks the record for the highest WTI price at which a cut has been explicitly called for.

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