Is oil heading for another price spike?

The oil market is booming again, and talk of another oil spike is spreading. But the fundamentals of supply and demand remain weak. So what's going on?

The oil market is booming again. Prices hit a seven-month high of $63 a barrel in New York this week, almost double February's low of $33. In the past four weeks alone, it has gained 25%. Talk of another oil spike is spreading; last week Iran's oil minister warned of a "price shock" once the global crisis is over.

What the commentators said

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