OPEC is not increasing production to meet demand
Obama has banned oil drilling and exploration in key areas for seven years
It is an extremely cold winter and worldwide demand is higher than usual
We are still recovering from the Deep Water Horizon rig explosion
Currency values are dropping relative to commodities due to loose monetary policy
A combination (explain)
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While speculators may be able to profit if oil prices continue to increase for a few more years, buying and holding oil for long-term speculation seems like a bad idea.
Last edited by Kandahar; 01-01-11 at 03:01 PM.
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Part of the explanation in US dollar terms is the depreciation of the US dollar. For many currencies, there has not been a significant rise in the price of crude oil...
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