Oil Prices Primed to Climb: Analysts

Is it time to close the book on the speculation theory of crude oil prices?

As oil settles in near $60 a barrel, some analysts say it’s time to dispel the notion that heavy trading is the culprit behind record-high prices. Rather than poised for a spectacular crash, oil could keep climbing, they say.

Light, sweet crude for September delivery closed Tuesday at $59.20 a barrel, just a few dollars off the record high for a front-month contract of $61.28, set July 6.
CNN Money