Oil has been manipulated for past 7 years. No reason it should have ever cracked the 70 dollar a barrel range.
Wrong, oil has been manipulated since it was allowed to be traded on the futures markets in about 1983(?) or so. Until then it was a more true market that set the price.
Actually the general public is stupid enough to think the oil companies control the price of their product when in fact they have no control other than having the right to produce with wells and when not too. Something that is very rarely done.