Simon Wardell Market Quotations

Supplies are ample and stockpiles are rising. We're still lacking spare production capacity but the market is fairly happy that there's a good buffer in place in the form of inventories.

The market seems to be determined to pass 70 dollars.

The markets are going to discount Nigerian production in the price of oil. It could be that it shuts down all of Shell's onshore operations in Nigeria.

It is a strange market at the moment and frankly I am surprised that the rise we've seen earlier in the week from the Ukraine-Russia dispute is still there. People still feel a bit shaky about what happened in Russia and Ukraine, and with Sharon ill and some uncertainty in Israel.

It could be that it shuts down all of Shell's onshore operations in Nigeria. The markets are going to discount Nigerian production in the price of oil.