Ping!
“oil analysts on the Street don’t seem to have a clue.”
If these oil analysts actually knew what future prices would be they would not have to work for a living. That is why futures markets are so important. They provide producers and consumers of energy both price discovery and the ability to lock in a price. Traders and speculators provide liquidity to the market which allows energy producers and consumers to lock in a future price. The Democrats attack on the futures markets as the cause of high energy prices is one more way in which they attempt to screw up the economy.
Goldmann Sachs has been trying to push the price to $150/bbl since June. Wonder when the congressional dunderheads will call them to testify for their attempt to manipulate the market. Since they give big bucks to Democrats, I’d guess never.