Saudi Oil Minister: Fears of Oil Supply Shortage "Irrational"

5:00 AM ET Thu, 29 March 2012

David McAlvany, CEO of McAlvany Financial Group, told CNBC "the larger issue is that you do have about a 15 dollar fear premium with uncertainty relating to Iran, so that is the issue, because actually if you are looking at supply and demand dimensions you could argue for significantly lower oil."