125 a barrel for oil?

Question

how high can it go? if I were a betting man, Id say we will see 150 a barrel before the end of the summer......any takers

Answer 1

here in Australia we will be paying $2 per litre for unleaded by December. its stupid,

Answer 2

It's all due to speculators speculating.  There are many commodity traders who are convinced there will be a serious price correction in the near future.

Answer 3

Suckers bet, because it will more likely climb higher than that soon, because of the wild speculations that people are attempting to cash in on the publics need! When any commodity is this disruptive the feds have to take action and limit the price and at  the same time insure that supply is provided. They can only do this if they tie supply to profit directly. They don't get any profit unless they continue to meet the demand! And at the same time do this within the limits of the price structure!