Crude Oil 2011 Discussion
The mainstream news is now predicting Crude at $160 a barrel, I'm no expert but I don't see that happening unless the supply is actually cut off, and even with the events of the middle east, supply has hardly been affected, and the other countries can and are willing to make up any shortfall in supply.
However, this doesn't mean that speculation and manipulation couldn't artificially prop up the price of oil.
For the last several weeks Crude has hovered around ~100 a barrel and suddenly shot up.
With that said, it's obvious there's no way the $160 a barrel predictions will come true anytime soon, and if oil does keep rising, it's all manipulation IMHO.
This doesn't make any sense to me, the economy has been really slow and consumption and demand are down worldwide, if not due alone to China's manufacturing slowdown.
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