25 Quotes by Mike Wittner

The speculative money is as much of a key driver for oil prices as Iran and Nigeria. There has been a massive influx of new money into commodities in general since the start of the year.

Declines will continue. There is only one new field of any size - the Buzzard field - set to come online. Otherwise it's just bits and pieces.

Another surge of new money is coming into the commodity markets.

As far as making a big bet on the weather, even if you're bearish it's still too early to go short in a big way.

The bottom line is US demand seems to be recovering, but the market still needs to be convinced of that.

There's a lot of investment money searching for a home. Investors are buying the argument that it's an emerging asset class and we've been seeing that with a vengeance in January.

It's U.S. gasoline, its Nigeria, it's the financial flows and Iran is there in the background. Do I think we're going to hit $70 at some point? Easily.

Strong demand is now priced in. Barring a sustained cold snap, I can't see any fundamental reason for much more of an up-move.

It's just a bit of profit taking after the weekend.