Fear is the fuel driving oil prices along the Peak theory road

Amid the demand to fuel an insatiable Chinese economy, not to mention India, crude oil prices are not so much driven by OPEC these days, or by mere cyclical phenomena such as the uptick from demand for “driving season” in the US, or impending demand for heating in the northern hemisphere winter. Cyclones in the Gulf of Mexico, inventories in the US and turbulence in the Middle East all have their impact.

But fear is the driving factor.

The Australian