Oil has rebounded from the lows of February 11, with West Texas Intermediate Crude up nearly 15 percent year-to-date.
Despite this surge, Albert Brenner, head of asset allocations at People's United Bank, tells CNBC's "Power Lunch" on Wednesday this does not mean oil prices have stabilized.
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"No equilibrium market price for crude oil at present, not likely going to be one for a long time - as a consequence, oil prices will be volatile and subject to large swings for the foreseeable future - several years," Brenner said.
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He sees the imbalance between supply and demand as the major reason for the volatility.
"Although supply/demand conditions might come into balance later this year or early next year, they are almost certainly not going to stay near a balanced condition for very long," Brenner said.
WTI and Brent Crude are up 3 percent during trading.