Oil Prices to Reach $80/Barrel?

Oil prices are heading higher on the chart with the cash West Texas Intermediate (WTI) crude rallying back toward the $100.00 level after threatening to test $90.00.

Steady economic signs in the United States, China, and Japan -- the three largest economies in the world -- along with some muted growth in the eurozone and Europe are adding some spark to the oil futures.... But hold on; doesn’t the buying seem somewhat premature? I’d say so, as I believe oil prices may have limited upside unless something dramatic surfaces in the Middle East that impacts OPEC oil.
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