The hike in the oil price is due to the very strong world...

The hike in the oil price is due to the very strong world economy especially in the USA, China and India and a number of South American coys. Iraq is a relatively minor influence.

Are you an investor in the sharemarket? If you are, you surely must be aware of the significant influence the above countries/regions have had on the price of oil over the last few years, together with falling US$.

Oh! And I forgot Chavez in Venezuela and difficulties in some African countries eg Nigeria.