"I don’t think anyone here likes to hear the truth. The truth being it’s simply a supply/demand squeeze."
Starbust
no one is denying there is a supply demand aspect to the price
But care to explain the spike in the oil price 2 weeks ago of $15 per barrel over a few days
a spike the price has not pulled back from
yet there was no change in oil production or supply or demand
the spike like many others was based solely on traders pricing in what they thought might be the effect on the oil price if Israel should happen to go ahead with an attack on Iran sometime in the future.
Take out the effect traders and future contracts are having on the oil price and it would probably based on estimates drop back to around $90per barrel. Still way above the $20 it was 10years ago which is the supply demand portion of the price increase
ahmadinejad calls oil price hikes manipulated, page-20
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