The price of OIL did not go up last year to $140/bbl because of shortage of OIL or fundamentals (SUPPLY/DEMAND) like one poster keep suggesting over and over again.

It is wildly know fact that commodity bubble (include OIL) was "manufactured" by hedge funds play: short US$ and long commodity. Peak OIL theory has been use to justified this trade.

Suggestions that the Oil price will move up because increase demand for asphalt, is ridiculous.

OPEC spare production capacity is at record high over 7 millions /bbl a day. Oil in the storages are at 16 years high.

Oil may go higher in short term but I agree with 2C... it will not be based on fundamentals.