$89.56: We're Not Going to Hit $90 Today But It Will Be Close

This is very, very interesting. I'm on the road so I don't have access to CNBC, but I assume the "talking heads" all agree that the fundamentals don't support this price and it's all being driven by speculators.

Yup. 1 billion speculators in China who all want to own cars.

I assume the moratoria on off-shore drilling in the Gulf, off Alaska, off the East coast, and off the West coast are still in place, along with all those lost jobs or potential oil industry jobs.

Update: I was wrong. "We" did hit $90. $90.02 to be exact. Incredible.

And from Rigzone: oil hits 2-year high.