Post the dates and prices coward lolThere is no such thing as a predictable relationship between supply and demand and the price of oil. This issue is far above such simplistic attempts to assign price hikes to a single primary cause. Oil prices on the world market are the second highest under Biden than they have ever been before, with prices under Obama higher than that. Here is an excellent article touching on several key factors we have not yet even discussed on this thread:
Oil Market Volatility | Council on Foreign Relations (cfr.org) 5-6-11
Oil Market Volatility
Though shifts in demand and reduced production by some major producers have influenced oil prices, investor behavior is also increasing market volatility.