THE oil market is behaving like a bucking bronco again, and politicians are once more blaming speculators for careening prices. It is difficult to assemble a definitive explanation for the rally: a weak dollar helps oil prices, but evidence for improving supply and demand remains thin.
The rally that was predicted has begun, just this week oil hit 71 dollars and the dollar has also led to this spike. The accusations of speculation are thin, but some investigations are expected to be launched anyway. As of yet events in Iran have not disrupted the price, of course events still have to play out.
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