Hurricane Dean is still picking up steam – experts are predicting a rise to a category 5 storm. Dean headed down to Belize and Mexico’s Yucatan Pennisula this morning.
While it is a near miss for the Gulf’s largest oil-production regions, Kevin Kerr is still a bit concerned.
“We have to remember that the area it’s going to hit is the third-largest oilfield in the world,” Kevin said on CNBC’s Squawk Box this morning.
Global supply and demand over the long-haul also worries him a bit, “I mean, China has a lot of lead toys they have to make…we’ve seen strong demand out of there and I don’t see it waning anytime soon.”
Watch Kevin’s whole interview on CNBC here.
The Daily Reckoning Australia