techzone12

Oil Price Chart Since 1990

Ok. From the chart someone can conclude that it has to do with the start of the Iraq war. We know that demand is outpacing supply, but this fact didn't change overnight. I have read a lot of articles that said that the price of a barrel will never be able to cross $100.
To me it seems like political uncertainties (more to come) have contributed to the sky-rocketing trend. But for now I am predicting the the price will drop right before the november elections. People have short memory.