In a sign that the eco-system that determines oil prices is more fragile with each passing month, oil is back to $96 a share.
The conflict between the Turks and Kurds have helped move prices up, as have concerns about US demand for crude. Neither is a major factor in the world supply of oil, but the reaction is akin to watching 100 super-tankers sink to the bottom of the ocean with millions of barrels of crude on board.
The truth about oil is that the reasons for price moves are increasingly unstable, and that will tend to move oil prices higher.
Panic is taking on the scent of gasoline.
Douglas A. McIntyre
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