hydrocarbon prices

Ok, crude prices were up again yesterday. This is starting to get ridiculous. There’s no hot war (yet), but crude oil prices are up nearly $33.00/bbl over the past five months, $12/bbl in the last two weeks.  NYMEX April crude closed at $107.84/Bbl, up $1.55.  It popped over $108 for a while, a level last reached in May of last year.  Technical analysts are going crazy with this signal confirming all sorts of breakouts and new trend lines.  Could WTI get back to $145.29/bbl hit on July 3, 2008?    That’s not even a stretch.  Yesterday Brent almost hit $125/bbl.  So crude traded on the international market is only twenty bucks away from the record high number.  Just 15% more to go.