Kevin Norrish Crude Quotations

This supports our view that crude prices will soften as we move through the summer months.

With plenty of crude oil available to the market at present and some OPEC members signaling that lower oil prices may be acceptable to the group, the stage may well be set for further tests of support over the coming weeks.

With global inventory still at extremely low levels and particular concern over low product and crude oil inventory in the U.S., there is little obvious sign of any significant weakness.

There's still going to be concern about potential hurricanes in the market for a few months. Crude output and refining are so tightly stretched that you don't need a big disruption to put the system under a lot of pressure.

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.