Evercore's Stephen Richardson breaks down oil's hot start to 2022

Stephen Richardson, Evercore ISI head of oil and gas exploration and production research, joins CNBC's 'Squawk Box' to discuss oil's hot start to 2022. Richardson explains why markets could see triple-digit oil prices for periods of time. "We still think this market can find balance in the $70 Brent range over time," Richardson tells CNBC. "But certainly this has been a one-side surprise year-to-date."