Is Oil’s Next Stop US$85?

Back on February 25th I made this post: Get Ready for $70 Per Barrel Oil Again. Okay, so every so often I get something right. The real lesson in this is that worldwide supply versus demand is the key issue. We do not live in an energy vacuum.

These two pictures tell why crude oil will soon take out the all time high in the $78 range and move higher from there over the next several months: