Gordon Brown is giving a speech in Saudi Arabia today, staying that it's increased world demand not speculation that's driving up the oil price.
That means that it is definitely caused by speculation then.
The Saudi Conference has been called to calm the markets, aiming to bring about an oil price drop.
We can be pretty confident that when the conference is over, oil will cost more.
If only our prime minster had the courage always to say the exact opposite of what he meant.
