Last I heard that 1 Iranian FISH BOAT crossing the Hormuz and Oil and Gasoline spikes up $3.00, and Gasoline 5 cents. This are Criminals that are running this Oil Speculative markets. I do hope that they get shafted really well with the Fiscal Cliff driving them to run from oIL . Last I heard US have more oil than Saudi's so why are oil going up?
But wait...Bloomberg says that oil is spiking because Obummer is heading back to Washington to try to solve the fiscal cliff. Geezzz....they dig for any fundamental reason why oil is going up. They have no more of a clue than posters on message boards. (including me)
Well...how about thin trading volume and an imbalance in long versus short trades exaggerating price moves. Nothing but speculation. It could be easily down $3.00 tommorrow.