Oil Prices

Oil prices are way down over the past couple of weeks. Today they hovered in the $41-$42 per barrel range, compared to a high of around $55/bbl in October. There seems to have been considerable volatility in recent days, partly because of the impending OPEC meeting in which production quotas may be changed.

Is it too early to start wondering whether the run-up in prices this fall was simply a small speculative bubble?