Depending on geopolitical events such as Iran, Turkey, etc. it is possible it could go above $100. Currently it is up on traders running the price up for short term profits.How high the oil price can be ?
Currently half of the reason we see the price of oil increasing is because the value of the dollar is going down. So in order to buy oil from foreign countries, we must use more money to make up for the large decrease in value of the dollar.
Why is this happening? Because many in the Whitehouse don't care about the national debt. Our huge national debt and trade imbalance is causing the dollar's value to fall.How high the oil price can be ?
it's up and down so who knows. right now it is up and at some point in the future it will drop back down and that will be a good time to buy in.
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