“Oil reached $140 a barrel for the first time ever Thursday following reports that Libya may cut production “
I have been told its the dollar that dictates the price not supply,demand and speculation.
It’s everything. Part of the cause of the weak dollar is tied to oil and some of oil is tied to the weak dollar, it’s all a matter of where we get it from and who we owe it to. Unfortunately since we have a supply and demand problem we have to get it from where we can since we can’t get it from here.