Originally Posted by Craig

IIRC, last week (or the previous week) OPEC announced that they were not going to increase output at this time and that they didn't plan on meeting again until september, implying that their production will not increase until then (at least). I'm sure that news drove a lot of speculation that bid the price of crude up to $105. There is a lot of money to be made if you are on the right side of this little game.