Detailed text transcripts for TV channel - CNN - 20110225:01:20:00
Up with the demand. as the demand grows and the supply doesn't grow, you're seeing pressure, inventories have been liquidated in many warts of the world. still some opec overhang but not very much. so what we have is a classic supply and demand relationship change. now add on top of that the volatility, the turmoil and the turbulence in the middle east and oil hates turbulence. oil is as necessary to a refinery, to an aurl, to a chemical plant as flour is to a bakery or milk is to a family. so what is driving the crude oil price right now is fearful it is irrational, it is illological but you ...