quote ....."The whole reason about the rise in oil prices is that the middle east is probably unable to increase "......
What a load of crap.
FACT
52 weeks ago today the price of 1 barrell was USD $86.01
Yesterdays peak price was USD $123.93 (source
www.oil-price.net)
Price per barrell is up about 70% on this time last year
Has the buying power of the USD depreciated by 70% .... NO
Has oil demand increased by 70%....NO
Has oil supply decreased by 70%....NO
So what has changed?
12 months ago is was estimated that approx 12% of all hedge fund money was in oil futures. Last week that number was estimated to be 35%.
Why?....... has anyone looked at the equity markets lately?
Try using the grey matter !