The oil markets have been chaotic ever since Obama won the Democratic Nomination in 2008.
Recall how just before the 2008 Election, oil went up to $140 a barrel and by his inauguration, the price of oil crashed.
He then instituted policies that ran oil to above $100 and the back down to the current devastating price collapse.
The American oilfield worker is endangered and thousands are being laid off every week and Obama refuses to help maintain oil at a healthy $120.
Look at a oil chart from Sept 2001 to now. That has been the rise of oil prices. Instability in the ME has been the greatest oil stimulate around. Just as the fall of Iraq hasn’t helped to settle such prices.