Originally Posted by acl65pilot

Do not count you chickens before they hatch.

Crude is bought and traded on margins. When, not if, interest rates are raised, the price of crude will drop significantly. I suspect we will see 100 dollar per bbl oil though summer and when the Fed Raises interest rates in the second half of the year, oil will trend downward. My guess is 60-72 per bbl. If I were a smart man I would not be hedging right now.