>The doubling of the SPR is a minor factor. Oil is traded on a futures basis. Ask yourself this, why are professional traders buying future oil contracts at these high prices?
>
>What's on the horizon that will affect supply?
>What's on the horizon that will affect demand?
>What's on the horizon that could possibly change those answers?
>
>$200/barrel is definitely a possibility given the way I answer those questions.
>
I would think that after Brazil found not one but two huge oil patches that are supposed to put them in an OPEC status (considering the size of the oil reserves) the price of oil should go down for there would be more supply
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Jorge L. Borges?
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Donald Knuth, repeating C. A. R. Hoare
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