Edward Morse, global head of commodities strategy at Citi, spoke with CNBC on Friday.
- says there’s a “geopolitical premium” in oil prices
- but that “the physical oil market is really a lot weaker than where the prices are predicting at the moment"
- "People have been exaggerating the oil market immediate implications of whatever might happen – it looks like nothing might happen on the immediate future that’s going to affect prices.”
- “The physical market is pointing in a different direction from the volatility but we’re still a good $10 below where the peaks were last month”
