Crude prices continue to fluctuate around $100 per bbl.. why? http://www.eia.gov/finance/markets/spot_prices.cfm Crude oil is traded in a global market. Prices of the many crude oil streams produced globally tend to move closely together, although there are persistent differentials between light-weight, low-sulfur (light-sweet) grades and heavier, higher-sulfur (heavy-sour) crudes that are lower in quality. 
1: US spare capacity exhausted 2: Arab Oil Embargo 3: Iranian Revolution 4: Iran-Iraq War 5: Saudis abandon swing producer role 6: Iraq invades Kuwait 7: Asian financial crisis 8: OPEC cuts production targets 1.7 mmbpd 9: 9-11 attacks 10: Low spare capacity 11: Global financial collapse 12: OPEC cuts production targets 4.2 mmbpd
Oil prices have responded to geopolitical and other events over the past 40 years. Events that disrupt supply or increase uncertainty about future oil supplies tend to drive up prices. | 
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