Main risks to crude supply lie in Iran, Nigeria, Gulf of Mexico – NAB

Supply concerns in Iran, Nigeria and the Gulf of Mexico are likely to remain a factor in crude oil risk premiums in the coming quarter, according to National Australia Bank minerals and energy economist Gerard Burg.

Burg said while there is considerable uncertainty, price movements of the main crude oil benchmark contracts will return to their typical relationships in 2008 as short-term constraints are unwound.