If oil hit $64 today on geopolitical worries, we have a bumpy ride ahead. Things are going to get more worrisome as time goes by.
"Things are going to get more worrisome as time goes by."
Nah, things will almost certainly get less worrisome for the simple reason that right now there is an abundance of 'worry' in the market.
Example: Fear of terrorist attack. Yet likelihood that a terrorist attack could impact oil market tangibly is practically nil.
thus it is a 'fear factor' only.
The real issue is how long will it take for plain ol supply and demand to kick in ... seems to be taking a long while.